Reverse GL bank entry not reflecting on bank balance

(0) Share

Report

Posted on by RollingStonzcrm

I did a GL entry to post $100 in to bank account (US OPER) offset by error account (9998) but i actually wanted to offset by Owners equity. So I went ahead and did a GL reversal as Jason suggested. it worked great. However, the bank account (under cash and bank) still show the balance as $100. When I looked at the trial balance, the ledger account for US OPER shows correctly. Is there something I am missing?

*This post is locked for comments

I have the same question (0)

All responses (7)

Answers (1)

André Arnaud de Cal... 301,079 Super User 2025 Season 2 on at

Like (0)

Report

Hi,

Can you share some more information? Who is Jason and what exactly have you done?

Was this reply helpful? Yes No
Ludwig Reinhard Microsoft Employee on at

Like (0)

Report

Hi RollingStonzcrm,

Have you selected the transaction type 'Bank' when posting the journal or did you select 'ledger' and only selected the ledger account linked to your bank account?

Best regards,

Ludwig

Was this reply helpful? Yes No
RollingStonzcrm on at

Like (0)

Report

In the journal, Transaction account type bank was selected and offset to a error account (9998)

Was this reply helpful? Yes No
RollingStonzcrm on at

Like (0)

Report

Hi Andre, I used the 'Load ledger transaction' with invert sign option with a same new voucher for number (with filter criteria set to pull the original voucher) for reversing the transaction.

Was this reply helpful? Yes No
Verified answer

André Arnaud de Cal... 301,079 Super User 2025 Season 2 on at

Like (1)

Report

Hi,

This load ledger transaction function will create lines based on main accounts only. It will not copy the entry done with sub ledgers as the original journal. So, this explains why the bank balance is not updated.

It would be the best to reverse the last correction journal. Then enter the lines manually using the type Bank account. Also make sure to set the 'do not allow manual entry' on the main account used for banks. This will prevent users from making incorrect postings.

Was this reply helpful? Yes No
RollingStonzcrm on at

Like (0)

Report

thanks a lot Andre. appreciate. I will go ahead and try to reverse the correction journal. But how do I reverse the original GL entry I did for Bank with incorrect offset account. Would I run a reverse transaction on this (with -ive). If I set the main account for bank to no for manual entry, how then I bring the opening balance for the bank account. Could you elaborate the sequence of steps I need to be doing. thanks again.

Was this reply helpful? Yes No
André Arnaud de Cal... 301,079 Super User 2025 Season 2 on at

Like (0)

Report

Hi,

I'm not able to follow why it was posted on a wrong account. Is the setting corrected now which would prevent your reversal? Usually you can enter the journal line(s) with negative (reversed) amounts.

Was this reply helpful? Yes No