Cancel Offset Entries for Bank Settlements

In the Cash Matching workspace, you can cancel offset entries for bank settlements that you previously transferred to the default entity associated with the bank settlement. If you used the Offsetting Transfer option to offset a bank settlement in error, and you want to make the bank settlement available for matching, you can cancel that offset bank settlement. The Cancel Offset Entry option reverses the accounting entries that STAR accounting processed and transferred to the default entity associated with the cash account relationship for the offset bank settlements. The cancellation process removes those settlements from the default entity and returns the bank settlements to an unmatched status so that they are eligible for cash matching. 

The Cancel Offset Entry option allows you to reverse those offset bank settlements you identified using the Offsetting Transfer option in the Cash Matching workspace's Manual Matching tab. It does not allow you to reverse offset bank settlements identified using the Offset option while the Manual Matching tab is active. And it does not allow you to reverse offset bank settlements you identified using the Offsetting Entries check box while performing a manual match. If you want to match bank settlements marked as offsets using those methods, you must re-enter the bank settlement. For more information, see Identify Bank Settlements as Offsets.

To cancel offset bank settlements:

  1. In Accounting Center, in the left navigation pane, click Transactions > Cash > Cash Matching.
    You see the Cash Matching workspace. The Manual Matching tab is active by default.

  2. Select the Matched & Suspended tab.

  3. On the Cash Matching tab, in the Actions group, click Cancel Offset Entry. 
    You see the Cancel Offset Entry window. 

  4. Specify the Begin Date and End Date values in the date range for the offset bank settlements you want to cancel.
    The dates identify the bank settlement's update date rather than its effective date. That is, you can search for the date on which you used the Offsetting Transfer option to identify the offset entries.

  5. In the Query Filter list, select Yes if you want to narrow down offset bank settlements by additional criteria. Otherwise, select No. 

  6. Complete the remaining options in the Cancel Offset Entry panel.
    You can further restrict results by entity, link event identifier, batch identifier, and/or cash match instance. 

  7. Click Submit. 
    In the Show All tab, you see a list of offset bank settlements that met your criteria. 

  8. Select the check box for each offset bank settlement row you want to cancel so that a check mark appears, and then click Cancel Offset Records.
    You can select one, two, or multiple offset bank settlements. You do not have to select a pair. 

  9. In the Cancel Offset records tab, review the offset bank settlements you selected for cancellation.
    The fields describing the bank settlements are locked and are for informational purposes only. Notice that the Match Description field has a value of OFFSET.

  10. Click Submit to cancel the selected rows.
    The offset bank settlements you cancelled are now available for matching. During manual matching, you can view those bank settlements in the Manual Matching tab. 

Cancel Offset Entry Panel Options

In the Cancel Offset Entry window's Entry Panel tab, when you select offset bank settlements to cancel, you can select the following options.

Option

Tag

Description

Option

Tag

Description

Search Criteria

 

 

Begin Date

220

Specifies the start date for your offset bank settlement results. This date is the bank settlement's update date.

End Date

221

Specifies the end date for your offset bank settlement results. This date is the bank settlement's update date. The default is today's date.

Selection Criteria

 

 

Query Filter

989

Indicates whether you want to select offset bank settlement results based on additional criteria. Options include: 

  • Yes. You can select offset bank settlement results based on criteria in addition to a date range. When you select this option, additional fields appear where you can specify filter criteria.

  • No. You can select offset bank settlement results based only on a date range. 

Entity Details

 

 

Entity ID

1163

Specifies the unique identifier of the entity.

Entity Name

1164

Specifies the name of the entity.

Other Filters

 

 

Link Event ID

28

Specifies the link event identifier. 

Batch Event ID

701

Specifies the batch identifier. 

Cash Match Instance

16221

Specifies the unique identification number for the cash match. The system assigns this value during the cash matching process. 

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