Marking Transactions as Cleared

If general ledger transactions don't have matching imported bank transactions, you can mark them as cleared from the Match Bank Data page. Clearing the transactions submits them for reconciliation. You can then reconcile them on the Reconcile Account Statement page.

Marking a general ledger transaction as cleared may be needed in these cases:

• You recorded a general ledger transaction for a check that was later voided with or without a reversing journal entry:

  • If you voided a check with a reversing journal entry, the system records a reversing entry to cancel the GL impact. Both the voided check and reversing entry appear as general ledger transactions on the Match Bank Data page. Clear both to get a zero balance.

  • If you voided a check without a reversing entry, you need to clear the voided check. If there are any matching imported bank transactions, match them to general ledger transactions. If no corresponding general ledger transactions exist, create them.

• You want to clear a transaction without importing bank data - for example, to handle an old transaction when uploading the statement is difficult or not possible.

To mark a general ledger transaction as cleared:

1. Go to Transactions > Bank > Bank Matching and Reconciliation > Match Bank Data.

2. From the Account list, select the bank or credit card account.

3. Open the Transactions to Match subtab. This subtab displays imported bank transactions and general ledger transactions that require manual matching.

4. Select each general ledger transaction that you want to clear without matching. Select only general ledger transactions that don't have matching imported bank transactions.

5. Click Clear.

   Note:

   The Clear button isn't active if an imported bank transaction or in-transit transaction is selected.

   The transactions are cleared and submitted for reconciliation.

6. Reconcile the cleared transactions on the Reconcile Account Statement page. For instructions, see Reconciling Transactions.

You can undo the cleared status of a general ledger transaction. For details, see Undoing the Cleared Status of Transactions.

Related Topics

• Matching Bank Data
• Updating Imported Bank Data
• Managing Unmatched Transactions
• Excluding Imported Transactions from the Matching Process
• Restoring Excluded Imported Transactions
• Adding General Ledger Transaction During Matching

General Notices