We wrote check 567 for $101 to vendor and transaction had split designations - $75 to Literature and $26 to Janitor supplies. When reconciling bank statement, reconciliation showed check 567 at $26. Our investigation showed: 1. Check register showed check 567 at $101 as written. 2. Journal transactions showed check 567 for $26. Apparently we entered account distribution only for the $26 item and the program allowed us to save a transaction which was not in balance. First time this has ever happened (check paid vendor proper amount and was on bank statement for $101)
Believe we can correct with an OOB journal entry entering the missing debit to the proper account. Any more reports of instances of this nature?
Bob Daniel
Save transaction failed
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Re: Save transaction failed
Go into AP reports and run a Selected Paid Items report. Select the vendor, leave Ref/Check blank, transaction type all, enter the date range for the invoice and check, enter the amount of $101.00 to 101.00, and check Include account distributions. This should bring up the invoice with the accounts entered. Often what happens is the same account is debited and credited so that it zeros each other out. If the bank was credited for $102 and than later debited for $75, that would explain how it transferred that way Since the difference is $26. The only real way to fix it would be to void that check and reenter it as a manual check with the correct distributions,
Example:
01-1110 CR 101
01-literature account DB 75
01- janitor account DB 26
You can use the same check number on the manual check and then post that to fund accounting.
Example:
01-1110 CR 101
01-literature account DB 75
01- janitor account DB 26
You can use the same check number on the manual check and then post that to fund accounting.
Re: Save transaction failed
Thank you Zaina for your prompt reply. Following your suggestion I have rechecked this transaction and find:
1. Vendor activity summary shows $101
2. Bank statement shows $101(no debits or any other entry on bank statement).
3. History shows invoice amount and amount paid as $101
4. Only journal transaction, check register, and reconciliation report show $26.
I have reviewed this with the CPA who handles our annual audit, and he says this appears to be a program error and that an OOB journal entry seems the easiest way to correct.
Of course we erred in not entering all of the account distribution, but don't know why we were permitted to save the transaction.
Have you heard of anyone else having this problem?
Thank you -
Bob Daniel
1. Vendor activity summary shows $101
2. Bank statement shows $101(no debits or any other entry on bank statement).
3. History shows invoice amount and amount paid as $101
4. Only journal transaction, check register, and reconciliation report show $26.
I have reviewed this with the CPA who handles our annual audit, and he says this appears to be a program error and that an OOB journal entry seems the easiest way to correct.
Of course we erred in not entering all of the account distribution, but don't know why we were permitted to save the transaction.
Have you heard of anyone else having this problem?
Thank you -
Bob Daniel