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Bank Feed FIND function not working

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newjo
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Bank Feed FIND function not working

Hi

 I have processed a refund from a supplier using 'Receive a refund' from the Purchases 'Supplier Returns and Debits' screen. This transaction showed the correct amount, and date of the refund paid into the cheque account.

 

My Bank Feed is showing the deposit but when I select the FIND option, it does not recognise the transaction I have done and says 'no transactions match'. Why? How do I match the Bank Feed transaction with the existing Receipt?

 

Thanks

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Steven_M
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Re: Bank Feed FIND function not working

Hi @newjo

Basically to make a transaction appear so it can be matched in AccountRight  there are 3 requirements that needs to be meet:

  • The transaction needs to be going to the bank account that you have setup as your bank feeds account. You can check this via going into the transaction and taking a look at the account number at the top of the screen. This account number needs to be the same as the one listed in the Banking>>Bank Feeds>>Account.
  • The transaction needs to have a similar date range and amount for that bank feed transaction. I would recommend find the transaction via the Banking>>Bank register window to check that particular transaction has been entered correctly.
  • Finally the transaction must not be reconciled or marked as cleared in the Banking>>Reconcile Accounts window. For example if you open up the Banking>>Reconcile Accounts window and there is a tick next to the transaction it has been marked as cleared. This would make the transaction not be able to be matched.

So provided that the receive refund transactions impacts the bank account, is on a suitable day, has a suitable amount and not reconciled or marked as cleared you should be able to match that transaction.

If you are sure that those requirements are meet with that received refund transaction I would love to see the following so we can investigate it further for you:

  • The payment transaction i.e. the receive refund transaction
  • The bank feed you are trying to match it to*
  • The find window for that bank feed with suitable dates and amounts
  • The Bank register showing that transaction*
  • The Banking>>Reconcile accounts window showing the received refund transaction.*

    *Please make a note of the account that is showing at the top of these windows.

Kind regards,
Steven

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newjo
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Re: Bank Feed FIND function not working

Hi Steven

Have checked the 3 requirements:

1. Checking the transaction shows thre deposit went to acct 1-1110 Bank Account -00.This is definitely the bank feeds account, and the deposit is showing in the Bank Feed.

2. Checking the Bank Register, the transaction(deposit) is dated 22/4/15 and was $118.87 which is correct.

3.Have checked reconile accounts and the item is unmatched.

 

Have taken screen shots and am attaching these. Look forward to your reply!

 

Thanks

Jo

Steven_M
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Accepted Solution Solved

Re: Bank Feed FIND function not working

Hi @newjo

Thanks for providing those screenshots.

Looking into the amount of the bank feed it is listed as being a deposit of $188.87. However the transaction in AccountRight is for $118.87.  If you extended that Amount From option in the match window to be $118.80 then selected Update the transaction should appear.

However a better question would be why is the bank feed transaction $188.87 and your transaction is $118.87. You might want to do some more digging into why the Supplier has paid you more than what you are owed according to AccountRight.

Kind regards,
Steven

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newjo
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Re: Bank Feed FIND function not working

Hi Steven

Thanks for that - I am a complete twit!!!! I entered the DR incorrectly in the first place so the amount of the deposit is actually correct. Now my question is how to fix this? Should I enter a 2nd DR for the difference of $70.00 then receive a refund for it? That would give me 2 transactions equalling the total deposit. How do I reconile that through Bank Feeds?

Cheers

Jo

 

Steven_M
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Re: Bank Feed FIND function not working

Hi @newjo

A Receive Refund transaction in AccountRight 2015.1 is not able to be deleted. We would need to leave the one that is already recorded in the system alone.  

I would creating a new debit note via Purchases>>Enter Purchase for that Supplier for the amount of $70 but as a negative. This will create a debit note, which can be seen in the Purchase>>Purchase Register>>Returns and Debits tab. You would highlight that debit note in the Returns and Debits tab, select Receive Refund and process that refund with the correct and account.

This is going to create a second transaction into the bank account. So you would go into the Banking>>Reconcile Accounts and tick both of those Receive Refunds transactions. In terms of the bank feed, you would manually need to hide that transaction. To hide a bank feed transaction right click on the required transaction and select Hide Transaction.

For more information into entering in a debit note and receive refund transaction please see the Help Article: Recording and settling supplier debits

Do let us know how you get on with entering that negative purchase, receive refund and bank feed transaction.

Kind regards,
Steven

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newjo
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Re: Bank Feed FIND function not working

Thanks again Steven! All done - will try not to be so silly in future!

Cheers

Jo

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