Bank reconciliation GL Cash out of balance to statement by negative amount of $5922.20

Paridhi Sapkota

On 10/10/23 we recorded deposit 2179 of total $9,941.60 in A/R module. Among that amount one check of $5,922.20 was returned on 10/12/2023 from bank due to bad account.

On 10/12/2023, I did nothing at deposit side but I created invoice and applied in customer activity and applied that deposit 2179 amount $5,922.20 to the invoice customer activity looked good. However, at the reconciliation, it says GL cash accounts out of balance to statement by ($5,922.20). (may be this step was not correct to address the customer's check returned by bank in AR, if not please suggest how to address it correctly)

To resolve this issue, tried to voided payment and the invoice newly created. Voiding payment: since the deposit 2179 was posted, I unapplied the amount, changed the closed to open status and unmarked the “deposit cleared on” box, save and from the payment tab at menu bar I click void this payment. I marked the box “leave the total deposit amount the same and create an offsetting bank adjustment for $5,922.20, choose void date 10/10/2023, and void post date 10/10/2023. However, when I tried to click void payment now it says “The interfund set is not setup to be used in Cash Management” I am not sure what that means. Can anyone suggest me how to address it?

Kevin Brazell

@Paridhi Sapkota
if any of the transactions are crossing your account funds, and the bank is missing the field for which interfund needs to be used to allow it to self balance entries, you need to go to the bank, go to the interfund field, and make sure it's not blank. If you have more than 1 interfund and 1 is on the bank, then inspect it and the transactions to make sure the interfund set is not missing a potential entry it may need so FE can make the balancing interfunds for those voids and reversals.

Paridhi Sapkota

@Kevin Brazell I will check it. thank you Kevin!

Christopher Hafer

@Paridhi Sapkota
We are having a similar issue with a voided payment. Apparently there's a known issue right now that can cause the GL and Trial Balance to no longer match. What happened to us is the GL posted a reversal for double of the amount, but the Trial Balance reversal was correct.

Rather than reaching out to everyone since this was a known issue, they posted an article.