Reversing the Bank Reconciliation Status in Sage X3

Sometimes, during the bank reconciliation process, certain transactions that should have been reconciled properly can be mistakenly removed from the bank reconciliation statement. When this happens, it can be challenging to reconcile those transactions again on the actual reconciliation date, especially if they have already been reconciled with other dates.

The beauty of Sage X3 is that it has the functionality to reverse the Reconciled transaction and remove the reconciled mark from the transaction without affecting the accounting implications of the transaction.

Let us see now, how to reverse the reconciled transaction and once It is reversed it will appear in the bank statement for reconciliation.

Creation of Payment Transaction.

Reconciling the Payment Transaction.

The above-reconciled mark is shown in the Journal Entry transaction also. Click on the Accounting document from the relevant payment transaction window and open the Journal entry transaction and we can see the values updated in the Mark and Reconciliation column.

To reverse the above-reconciled transactions we will have to run the Reconciliation Reversal functionality of Sage X3.

Reconciliation Reversal

In the above screen, select the respective bank for which we have to perform the Reversal process enter the start date, and click on auto. The below screen appears once we click on the field Auto.

Enter the start date, end date, Reconciliation code from, and Reconciliation code to, and click OK. A log file opens and displays the list of reversed lines and transactions.

Open the respective Journal Entry transaction again and check the Mark and Reconciliation column. Now the status and reconciliation date both are blank. The same transaction will be available again for reconciliation.

About Us:

Greytrix Middle East Subsidiary of Greytrix India Pvt Ltd, Headquartered in Mumbai. It is a leading Sage business partner and ISV Partner offering Consulting, Implementation, and development services for Sage X3, Sage 300 People (HRMS), and Sage Intacct, which covers Dubai, Saudi Arabia, and Qatar region.

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Reversing the Bank Reconciliation Status in Sage X3