Follow

How to fix an incorrectly processed undeposited funds

The purpose of this guide is to explain how you can reverse/journal a balance difference or incorrectly processed undeposited funds deposit. 

The process on how to Process your undeposited funds is here http://service.autosoft.com.au/entries/21440774-How-to-Process-Undeposited-Funds

 

If a group of transactions is ticked together, this then results in a total lump sum deposit on you bank rec. If this amount was incorrect, you have to do a Journal to reverse it.

For example;

This is what I processed

undeposited_funds_fix.png

This is my incorrect result

undeposited_funds_fix_2.png

 

You have to do 2 OR 3 Journals to fix your mistake;

Step 1 Fix: Do a Journal to reverse the total amount of the deposit. 

e.g. This is my Journal

undeposited_funds_fix_3.png

This is the result I can now tick as they cancel each other out and how to clear it completely 

undeposited_funds_fix_4.png

 

 

Step 2 Fix: Do another Journal to re-deposit the amounts split but on the same Date OR do 2 separate Journals for the split amounts on separate dates.

I will do 2 Journals so I can spit it into the differing dates

E.g. My Journal 2 to put in the amount that should have been deposited on the original date

undeposited_funds_fix_5.png

e.g My Journal 2 for the second deposit amount on a different date

undeposited_funds_fix_6.png

 

My result

undeposited_funds_fix_7.png

 

 

 

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.
Powered by Zendesk