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AR receipts are posted to incorrect bank account

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Posted on by KW-CS

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We are starting the bank reconciliation but realized that the AR receipts are being recorded in the wrong bank account. How should we handle fixing these posted transactions?

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Kevin Xia Microsoft Employee on at

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AR receipts are posted to incorrect bank account

Hi,
To fix the issue, you can follow these steps:
Identify the AR receipts that have been posted to the wrong bank account.
Reverse the incorrect postings by creating a reversing entry for each affected transaction.
Create new AR receipts with the correct bank account information.
Apply the new AR receipts to the appropriate customer invoices or open customer transactions.
Ensure that the original AR receipts posted to the incorrect bank account are properly voided or marked as reconciled.
Best regards,
Kevin

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