Submitted bank transaction status shows as 'pending'

Okay, so when I submit a bank transaction, it shows as “Reconciled” in green, but the status still shows as ‘pending’.

If I attempt to edit the item, and change the status to reconciled, I get an error that says: “Not allowed to change Status after submission”

I need to be able to correct these items, as there are very many. The system should change the item to reconciled, once it has been permanently submitted, but it does not.

Thank you.