Bank Rec 6.0. Although we can clear a transaction with an earlier date, we have to figure out the best way to make the offsetting transaction. Example: An AP check with a Nov date cleared the bank in Oct. The correct offset is the AP control account. You need to create a transaction to reverse the Nov transaction, then create another transaction for Oct. It would be nice if we can make an AP adjustment to the check, but Accpac does not offer this. In fact, I cannot find any good way to do this in AP. If we do this in GL, we do not want to post to the AP control account, because that would upset the AP subledger balance. So we need to find some other balance sheet account for the offset. The best option is to automate this in Bank Rec. If you change the clearing period, Accpac will automatically create the internal transactions. The next best option is to allow AP adjustments to the check.

by: Allan O. | over a year ago | Financial Management