Bank Rec Issue

[J3CPA]

Hello Friends! I sure hope you can help me.

One of my employees went to transfer cash between the main bank account and the payroll account. It was supposed to be a June entry but she made it in July. So, I'm like, "I can fix this real quick. I will just make the reversing transfer in July and enter the correct one in June." That would've worked fantastic; but I messed up.

Here is what I did: Instead of going to the Transaction Register and recording a transfer, I went to the Transaction Register and recorded a Cash Receipt in my main account with the other side of the entry going to my payroll account. Now, when I go to reconcile my main account, everything is A OK. The problem is when I go to my payroll account...the offset of my correcting entry isn't there. My thought is that it isn't there because I entered as a Cash Receipt.

Please help!!!

Thanks a million....J3CPA.

 

[Blorf]

You could fix this by simply reversing everything and then go into bank code maintenance and adjusting your balance to reflect your current GL balance for Payroll. Because it was a cash receipt entry for your general account, the transaction only reflects on your general account and not payroll.

Have a nice day.

There Are 10 Types Of People In The world:
Those That Understand BINARY And Those That Don’t.

http://www.thelegacyreturns.com/