What do you do when cheque(s), direct debits or credits you have processed have not appeared on a bank statement, but are waiting on the list of items to be reconciled (Bank and Cash > Reconcile a Bank Statement) and are now over six months old?
This depends on whether these items were processed in the current financial period or not.
If they were processed in the current financial period, use Method 1.
If the transactions were processed in a financial period that has subsequently been closed use Method 2.
The purpose of this process is to write-back the value of the transactions.
Method 1 - For transactions processed in the current financial period
Select Transactions > Cancel Income or Expenditure Transaction.
Filter to find the transaction.
Click the radio box button in the left column for the transaction and click Continue.
In the Reason for Cancellation field type ie. Unpresented cheque timed out.
Cancelling the payment transaction will remove the item for the reconciliation list. You will see the details of this cancelled transaction in the List of Cancellations report (Reports > List of Cancellations).
Method 2 - For transactions processed in a financial period which has been closed
Select Transactions > Enter Income.
Select the Account against which the transactions was processed. (If this account is not available in the current year select an appropriate alternative.)
In the Description field type ie. Unpresented cheque timed out.
Enter the amount of the transaction.
Choose Type as a Direct Credit.
Select the Bank account the transactions was processed against.
Enter an appropriate date.
Select the Name of the payee.
Click Save.
Both the Direct Credit transaction and the Unpresented transaction must be reconciled, so select Bank & Cash > Reconcile a Bank Statement and reconcile them.