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Fix a wrong Bank Transaction

Posted on by 5

Last month I entered accounting receivables in the wrong account. I entered it in Bank Transactions, increase adjustment ,debt to bank and a credit to bank. I should had entered debt to bank and credit to receivables. I don't know how this entry did not throw off my balance in bank reconciliation. Now I have to fix my AR. How can I do it?  

Thank you,

Karina

  • Suggested answer
    Jeff Grant Profile Picture
    Jeff Grant on at
    RE: Fix a wrong Bank Transaction

    Hi Karina,

    I would recommend performing a decrease adjustment in the checkbook to the same accounts to back out your increase adjustment.

    Then void out the receivables document in question for re-entry at the same date.

    If the entry was an invoice and there is a payment applied to it you would first need to void out the payment to void out the invoice accordingly.

    Theoretically the void/re-entry documents should make your corrections automatically when posted.

    Best Regards,
    Jeff

  • MATTGUO Profile Picture
    MATTGUO 22,304 on at
    RE: Fix a wrong Bank Transaction

    Moved to GP forum: community.dynamics.com/.../microsoft-dynamics-gp-forum

  • Karina Araujo Profile Picture
    Karina Araujo 5 on at
    RE: Fix a wrong Bank Transaction

    I'm using the Microsoft Dynamics GP.

    I am not sure if I could reverse it because I entered bank against bank. Do you really think it would work?

    I appreciate your help.

    Karina 

  • MATTGUO Profile Picture
    MATTGUO 22,304 on at
    RE: Fix a wrong Bank Transaction

    Hi Karina,

    Which product are you using?

    Is the operation in general journal?

    Could you reverse this wrong transaction and enter the correct transaction?

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