I think I see you problem. The way your loop is now, if the record you are looking for is the first one, test will be true. But since you don't stop your loop, test will be affected to false with the next record.
Try changing your code to this:
Code:
' Initialize test to False
test = False
rs.movefirst
do while not rs.eof
itemNumberGet=rs("itemNumber")
paymentStatusGet=rs("paymentStatus")
if itemNumberGet = "113344" and paymentStatusGet = "Completed" then
test=True
'You fond the record you a looking for, no need to continue the loop
Exit Do
end if
rs.movenext
loop
**then it does one thing or another based on the value true or false
' You don't need to check if test = false
if test=True then
else
end if
Stéphane Lajoie