clear Prepare Electronic Payments

Hi bbronny 

 

Thanks for your post. To clear transactions from the Prepare electronic payments window you would need to click on Bank file. This records the transaction that moves the amount from the electronic clearing account to the bank account.

 

As your accounts have been reconciled you'd need to look at how they were reconciled. To explain how electronic payments work:

 

1. a payment transaction (Pay bills, payroll, Spend money) is recorded which credits the electronic clearing account
2. the Prepare electronic payment transaction is recorded which debits the electronic clearing account so this account is cleared back to zero. The bank account is credited which appears as a withdrawal to be reconciled

This means that if the electronic payment transaction has not been processed the withdrawal has not been posted to the bank account. When the bank account has been reconciled it indicates that either another transaction has been recorded for that payment which results in a duplicate. Or, a general journal has been recorded to move the amount from the electronic clearing account to the bank account. You'll need to work out whether there's duplicate payments or a general journal was recorded.

 

If it was a general journal, so there's no duplicate transactions, you can create a new electronic clearing account. Make sure there are no current transactions in the Prepare electronic payments window. Then go to Setup>>Linked accounts and change the Bank account for electronic payments to the new account.

 

Please let me know if you need further help.

 

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