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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Prior Year Erroneous J...
Microsoft Dynamics GP (Archived)

Prior Year Erroneous Journal Entry

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Posted on by Kim M. 24

I've got a difference between the cash account balance and the checkbook balance and I've traced it back to a journal entry made at the end of 2016 to the cash account.  I've only been using GP for approximately seven months but I have learned in that time that journal entries do not affect the checkbook balance.  Being so new to GP I am unsure of the best way to fix it.  Any suggestions would be appreciated.

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    L Vail Profile Picture
    L Vail 65,271 on at

    You could create a reversing entry for the transaction posted to cash and then do a bank transaction entry to update the checkbook ID and GL account.  If you need to increase the balance in the checkbook only, do a deposit without receipts, If you need to reduce the balance, you can do a decrease adjustment that debits and credits the cash account so that it doesn't change the GL balance.

    Kind regards,

    Leslie

  • Kim M. Profile Picture
    Kim M. 24 on at

    Thank you so much for your assistance.  That is exactly what I was looking for.  

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