When conducting bank reconciliations in Property Matrix, transactions included in a reconciliation are linked permanently and cannot be directly deleted, as they affect the reconciliation’s balance calculation. This rule applies to both cleared and uncleared transactions.
Cleared Transactions:
These transactions represent the reconciled bank balance at a given date.
Deleting cleared transactions would disrupt the reconciled balance, causing inaccuracies.
Uncleared Transactions:
Uncleared transactions account for differences between the Property Matrix balance and the actual bank statement.
Removing uncleared transactions alters these adjusted balances, disrupting reconciliation accuracy.
Example:
Starting balances:
Property Matrix: $100,000
Bank statement: $100,000
A $5,000 check is issued but not cashed, reducing Property Matrix’s balance to $95,000.
Reconciliation occurs at month's end:
Bank statement: $100,000
Property Matrix adjusted balance: $95,000 + $5,000 outstanding = $100,000
If the $5,000 payment transaction is deleted, the adjusted balance no longer matches the bank statement.
Voiding or Reissuing Transactions:
To void or refund transactions included in past reconciliations, use the three-dot menu option to select Void or Refund.
This creates an offsetting transaction, neutralizing the original, allowing both transactions to be cleared in the next reconciliation.
Direct Transaction Edits:
To edit a reconciled transaction directly, you must first delete the associated reconciliation.
After editing, a new reconciliation must be created to restore accurate balances.