account payable

[Tammy/newlife]

I have 2 cituations where I noticed after posting to A/P and fund accounting that I made a mistake on where I placed funds taken out. I printed the checks and they are fine, but I placed the funds in the wrong account. Do I have to void the checks out and reprint manually just to correct using the wrong account number mistakes?

[JohnDMeyers]

You don't have to void the checks, if you already mailed them out, for example.

That said, it is a good idea to void the checks and make the corrections in the Accounts Payable because of the vendor history that is kept there. So, the "best" way is to void the check.

Another option is to issue a "correction entry" in Accounts Payable as a manual check that would look like this:
Let's say you paid $40 for an electric bill and you posted it to the gas bill account. The incorrect check looked like this:
Check# 1435
CR 01-1110-000 checking $40
DB 01-5480-000 gas bill $40

You could make a manual check in Accounts Payable, like this:
Manual Check# 1435 CORR
CR 01-5480-000 gas bill $40
DB 01-5482-000 electric bill $40

[Tammy/newlife]

great, thanks John....I'm liking option 2