Bank Reconciliation > Bank Transfers > Amend or Void Bank Transfers

If the bank transaction is reconciled but not transferred to GL using the Period-End Closing function, you can change the status of the reconciled bank transfer to make it unreconciled using the Reconcile Bank Account function. You can then amend or void the bank transfer provided that the period is not restricted for posting. If the reconciled bank transfers are already transferred to GL, however, you can no longer amend nor void the transaction.

To amend a recorded bank transfer, perform the following steps:

1.Access the Record Bank Transfer function from the Transactions main menu. The Search screen is automatically displayed when this function is accessed.

2.Select from the Search grid the bank transfer record that you want to amend. Alternatively, enter in the Lookup search box the transaction #, bank code, transaction code, or description of the bank transfer transaction that you want to amend.

3.Once a bank transfer transaction is selected, the Information Page showing the details of the selected bank transfer record is automatically displayed.

Note: The Transaction #, Source Bank #, Target Bank # and Transaction Code fields are inaccessible and grayed out once a bank transfer transaction has been saved.

4.In the Information Page, amend or update the following fields:

oTransfer Date

Enter in this field the date when the bank transfer transaction will be posted in the system. The system will not allow you to save this transaction if you have not entered a date in this field.

oDescription

Enter in this field a brief explanation of the bank transfer transaction for your reference. The system will not allow you to save this transaction if you have not entered a value in this field.

oReference

Enter in this field any information that will help you identify the transaction such as customer number, document number or transaction type. This field is optional.

oTransfer Amount

Enter in this field the amount of the fund transfer. If you are using a bank account that uses a foreign currency, the amount entered in these fields is shown in foreign currency amount which the system will automatically convert to the target bank's currency when you save this transaction.

Note: Once a value is entered in the Transfer Amount field, AccountMate will automatically calculate and display in the Received Amount field the equivalent amount in the target bank's currency based on the currency exchange rate . You may amend the system-calculated value in the Received Amount field when necessary.

oCurrency Exchange Rate

If the bank account record is a foreign currency bank account, this field is displayed adjacent to the Currency field. You may amend the exchange rate in this field when necessary.

oReceived Amount

Enter in this field the amount received from the bank transfer. If the currency of the source bank and target bank are the same, this field and the Transfer Amount field will have the same amount.

If the target bank account is a foreign currency bank account, the bank's currency exchange rate is displayed adjacent to the Received Amount field. The default value in the exchange rate field is provided from the exchange rate maintenance record of the currency code assigned to the target bank account. You may amend the exchange rate in this field when necessary.

5.In the GL Distribution Page, review the general ledger accounts to which transactions involving this bank transfer will be posted. The field values in this page is provided from the source and target bank accounts' Bank Account Maintenance record.

6.Review or update the narrative information about this bank transfer in the Remarks Page. You can enter an extensive description of the transaction in this area. The remarks will stay with this transaction and will be available whenever you open the transaction record.

7.To save the updates for this bank transfer transaction, click the Save button in the Transaction toolbar; otherwise, click Cancel to revert your changes.

Note: The Reconciled checkbox is inaccessible once the bank transfer transaction is saved. To mark or unmark the Reconciled checkbox, you must use the Reconcile Bank Account function. Please refer to the Reconcile Bank Account function topic for the details.

To void a bank transfer transaction, perform the following steps:

1.Access the Record Bank Transfer function from the Transactions menu. The Record Bank Transfer function tab will automatically display the Search grid.

2.Select from the Search grid the bank transfer transaction that you want to amend. Alternatively, enter in the Search box the transaction #, bank code, transaction code, or description of the receipt transaction that you want to amend.

3.Click the Void button in the Transaction menu.

4.In the Void Date field, enter the date when the bank transfer transaction will be voided in the system. The system will not allow you to proceed with voiding the transaction if you have not entered a date in this field.

5.Click Save to proceed voiding the bank transfer transaction. A message window will pop-up asking for confirmation to void the bank transaction. Click Yes to confirm, otherwise, click No.

Amend or Void Bank Transfers

Amend or Void Bank Transfers

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