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Bank Rec Issue

Bank Rec Issue

Bank Rec Issue

(OP)
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.

RE: Bank Rec Issue

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/

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