The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> How to reverse incorrect bank transfer
Post Info TOPIC: How to reverse incorrect bank transfer
anutushka


Veteran Member

Status: Offline
Posts: 59
Date:
How to reverse incorrect bank transfer
Permalink Closed

Hi all. I had one of those days today when nothing you do seems to go right. To top it up at the last 20 min before the end of working day I decided to quickly record bank transfers between current and deposit accounts. With a colleague chatting and me in a hurry (I know I am trying very hard here looking for excuses) I had done the opposite to what I was suppose to do. I tried to correct/delete entry from maintenance/corrections but the entry was made direct into journal. What would be the best turn of action?To do a contra transfer to nill wrong entry or correct by reversing journals? 

Just to clarify I ended up with JC current account, JD deposit account, where I should've had JD current account and JC deposit account.

 

Thanks a lot for your help

Anna



__________________
Rhianrach


Expert

Status: Offline
Posts: 1609
Date:
Permalink Closed

I would do the opposite of what you did to correct then post what you originally intended. Or if you wanted you could just post double the amount the correct way.

__________________
Steve
anutushka


Veteran Member

Status: Offline
Posts: 59
Date:
Permalink Closed

 Many thanks. Just need to make a note for when reconciling. 

Anna



__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> How to reverse incorrect bank transfer
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About