Outstanding checks - Implementation

Tim Fogarty
Tim Fogarty
Third Anniversary Name Dropper Facilitator 1 Blackbaud Certified
in Blackbaud Financial Edge NXT® General Discussions

Anyone know how to get outstanding checks from your old GL software into FENXT so that you can reconcile your bank accounts?

Comments

  • Sylvia Cook
    Sylvia Cook
    Sixth Anniversary Kudos 5 Name Dropper Participant

    @Tim Fogarty I think you enter them with a “do not post” status in the register.

  • Tim Fogarty
    Tim Fogarty
    Third Anniversary Name Dropper Facilitator 1 Blackbaud Certified

    @Sylvia Cook Thank you Sylvia.

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Tim Fogarty
    As long as their balances are already accounted for in the GL, then do not post would be the settings. Now if the GL does not have their balances accounted for yet, you could leave them as Not yet posted and post them to the GL. Also you could do a JE, make sure the box is marked to make corresponding Bank adjustments when hitting the bank account then post the JE, so bank adjustments are made. Always depends on if the GL knows about the entries first or not, to know the best way to handle them.

  • Sharelle Buyer
    Sharelle Buyer
    Fifth Anniversary Kudos 2 Name Dropper Participant

    @Tim Fogarty Our implementation specialist helped us with this. They entered any outstanding checks and deposits in the bank account and did a do not post. When you do your first bank reconciliation, you may have to do a journal entry to “adjust” your cash balance to match the GL. Again your implementation specialist should be able to help you.

  • Jennifer Painter
    Jennifer Painter
    Sixth Anniversary Kudos 1 Name Dropper Facilitator 1

    @Kevin Brazell We are doing a merger and I need to bring in the outstanding checks from the other agency's legacy system. Their TB has all these checks accounted for. BB has no idea what I am talking about (very frustrating phone conversation). So would I do the same thing here? Do I put them in the register just as a bank draft with “do not post” then clear them and the GL, statement and register will all balance?

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Jennifer Painter
    to enter in the bank they would be bank adjustments. Now the post status will be dependent on if the GL accounts for these checks already know about the checks. If they do , then you'd enter them as do not post. If Not, then you'd want to post the bank adjustments so the GL will know about them. Alternatively, if the GL doesn't know about them, then you could just enter them as JE entries, and as long as the box for make a bank adjustment when posting to cash accounts is marked, when you post the JE, all the bank adjustments will be made in the bank for the GL account.

  • Jennifer Painter
    Jennifer Painter
    Sixth Anniversary Kudos 1 Name Dropper Facilitator 1

    @Kevin Brazell Thank you…. that makes more sense, I didn't think I could do a bank draft without having an invoice to apply to. Both the invoice & checks are accounted for in the GL when I brought over the Trial Balance.

  • Jennifer Painter
    Jennifer Painter
    Sixth Anniversary Kudos 1 Name Dropper Facilitator 1

    @Kevin Brazell What was the debit account you used when adding these as a bank adjustment? Did you just use any account as it is a “do not post” entry

  • Jennifer Painter
    Jennifer Painter
    Sixth Anniversary Kudos 1 Name Dropper Facilitator 1

    @Kevin Brazell We are trying to do the first reconciliation. Entered all the outstanding checks as a bank adjustment with “do not post”. The beginning TB brought in a bank balance that has those checks accounted for. The bank account was reconciled before posting the beginning cash balance BUT the bank account to statement is off by the amount of previously outstanding checks. Any thoughts on what happened there?

  • Dovid Lando
    Dovid Lando
    Second Anniversary Kudos 1 Name Dropper Participant

    @Jennifer Painter I have 150 outstanding checks in one account, and my implementation specialist is long gone by now.

    Sounds liek I have my work cut out for me.

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