Edit reconciled transactions

This explains what to do when you want to edit a transaction included on a bank reconciliation. On your bank activity, they have a tick in the reconciled column.

You cannot change the customer or vendor. Instead, delete the transaction, then enter a new receipt or payment with the correct customer or vendor.

You cannot edit

Reconciled bank transfers or deposits. Reverse the bank transfer or deposit to clear the value from the bank account. Read Reverse a bank transfer or cash deposit

How this works

The edited transaction stays reconciled, when you change the Reference, Method, Ledger Account, and Date, as long as the date stays within the reconciled period. For example, if the end date of the reconciliation is 31 July, and you change it to any date up to 31 July.

The edited transaction is no longer reconciled when you change the Bank account, Amount, or Date where the date is later than the end date of the reconciliation. For example, if the end date of the reconciliation is 31 July, and you change the date to 5 August. For these transactions

We unreconcile and update the transaction so it is ready for you to check and reconcile again.
To tell you the edited transaction is no longer reconciled, we add a Removed from reconciliation label to the Corrected Transaction column.
We update the starting balance of your next reconciliation, as the edited transaction is no longer reconciled.
On the bank reconciliation page, we show the edited transaction with a Corrected label. This tells you that you edited this since it was reconciled.

Follow an example

The closing balance from your last statement was $1000.
You enter a payment for $500 and reconcile it. Your bank account balance and your reconciled balance is now $500.
After finishing the bank reconciliation, you realise that you entered the payment with the wrong amount. The payment should be $400.
You go to the bank activity and edit the payment.
Your bank balance is now $600, but your reconciled balance is $500.
On the bank activity, the payment shows as not reconciled.
When you open the completed reconciliation, the payment has a Removed from reconciliation label in the Corrected Transaction column.
To make sure your reconciled balance matches your bank statement, reconcile the edited transaction.
On the bank reconciliation page, the transaction shows as Corrected. This tells you that you edited this since it was reconciled.
The Starting Balance is now $1000 as we removed the $500 payment. You reconcile the edited payment. This updates your closing balance to $600.

You are now ready to reconcile your next statement as usual.

Audit trail and reports

When you edit a transaction, we reverse the original transaction and create a new one with a new transaction number. Apart from the audit trail, only the new transaction shows on your reports.

Change the description, reference or ledger account

From Banking, select the relevant bank account.
From the Activity tab, select the relevant row to open the transaction to edit.
Make the required changes and Save.

Change the date

From Banking, select the relevant bank account.
From the Activity tab, select the relevant row to open the transaction to edit.
Change the date and Save.

The edited transaction remains reconciled when the new date is the same period as the reconciliation. For example, if the end date of the reconciliation is 31 July, and you change it to any date up to 31 July.

The edited transaction is unreconciled when the new date is after the end date of the reconciliation. For example, if the end date of the reconciliation is 31 July, and you change the date to 5 August.

Change the bank account or amount

From Banking, select the relevant bank account.
From the Activity tab, select the relevant row to open the transaction to edit.
Change the bank account or amount.
If you reduce the amount of an allocated customer receipt or vendor payment, select the edit icon in Paid column. The Part Pay window opens. Adjust the Amount to Pay or Discount as required.
Save your changes.

Reconcile again

If you previously reconciled the transaction, you may need to reconcile it again. Do this when you change the bank account, amount, or date where the new date is later than the end date of the reconciliation.

When you open the reconciliation page, you will see the edited transaction with a Corrected label in the Corrections column.

From Banking, open the bank account you want to reconcile.
Choose the Reconcile link.
Check the Statement End Date. Make sure this is the same as or later than the date of the edited transaction.
Check the Starting Balance. This increases or reduces by the amount of the edited transaction. For example, the starting balance was previously $500. You edit a payment of $500. As the payment is no longer reconciled, the new starting balance is $1000.
Enter the Statement End Balance to match the new balance after you reconcile the edited transaction. For example, you change the payment amount to $400. As the payment is no longer reconciled, the starting balance is $1000. To reconcile the edited payment, enter $600 as the new Statement End Balance.
The edited transaction shows with a Corrected label in the Corrected Transactions column. To reconcile the edited transaction, select the check box in the Reconcile column.
Check the Reconciled balance is now correct and the difference is zero.
Select Finish.

The starting balance of your next reconciliation will now be correct.