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How to delete bank transactions

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Summary

How to delete bank transactions you entered or imported in error in Sage Accounting.

Resolution

How this works

When you delete a bank transaction, we remove it from your bank account and update the bank balance. You can’t delete bank transfers or deposits. To correct these, reverse the transfer or deposit first, then enter a new one. Read Transfer money between bank accounts.

Cleared transactions

Add a cleared check mark to all transactions imported from a bank feed or bank statement. This check mark shows that your bank statement and bank balance match the transaction in Sage Accounting. When you delete a cleared transaction, a message pops up to remind you to check your bank statement. This helps you make sure the transaction matches your bank statement during reconciliation.

Reconciled transactions

If you’ve reconciled the transaction, it appears on your bank reconciliation with a Removed from reconciliation status. This status shows in the Corrected Transaction column, indicating you have now deleted it. The Starting Balance of your next bank reconciliation updates accordingly. This balance always reflects the total value of all reconciled transactions up to the statement date. Exclude deleted transactions from this balance, and the total updates every time you delete a reconciled transaction. However, the Reconciled Balance remains unchanged.

See an example

  1. The closing balance from your last statement was $200.
  2. You enter a payment for $100 and reconcile it. The reconciled balance is now $300.
  3. After finishing the bank reconciliation, you realize you entered the payment twice.
  4. You go to the bank activity and delete the duplicate transaction. Your bank balance is now $200.
  5. When you check the finished reconciliation, the $100 shows with a line through it to indicate it’s deleted. The closing balance remains $300.
  6. When you start your next bank reconciliation, the Starting Balance shows $200 and matches your bank statement.
  7. You reconcile as usual.

Voided checks

When you void a check, it remains listed in the Cheque Register but marked as voided. We reverse the original transaction. The reference of the reversed transaction has the same cheque number followed by a 'V'. Both transactions show in your bank reconciliation and cancel each other out. Simply reconcile both to ensure your bank reconciliation is accurate. If you have already reconciled the check, the reverse transaction shows the next time you reconcile. Since we didn't remove the original check, we still include it in the Starting Balance. Just make sure you reconcile the voided check. The vendor bill will revert to being unpaid. If you still want to pay this bill, enter a new payment.

Delete a bank transaction

  1. From Banking, select the relevant bank account.
  2. From the Activity tab, select the tick box to the left of the transactions you want to delete.
  3. A toolbar appears above the list.
  4. From the toolbar, select the Delete button.

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