Correcting a check posted in the prior year

[tfitch]

Hello!

I am a newbie to PowerChurch and doing correcting journal entries in fund accounting.

I'm struggling on how to correct a check that was posted in error as follows. Account 1110 is the bank account. I need to redistribute $2,468 between 01-1110-000 and 04-1110-004.

Dr. Cr.
01-1110-000 8,867
01-6702-000 6,399
04-3448-004 2,468

It should have posted as follows:
01-1110-000 6,399
04-1110-004 2,468
01-6702-000 6,399
04-3448-450 2,468

I tried reversing the original entry, but always get an out of balance error. That makes sense because it wouldn't balance.

Do I void the check and then do a journal entry to make the distribution is correct?

Thank you,

Maurice

[NeilZ]

Hello!

I am a newbie to PowerChurch and doing correcting journal entries in fund accounting.

I'm struggling on how to correct a check that was posted in error as follows. Account 1110 is the bank account. I need to redistribute $2,468 between 01-1110-000 and 04-1110-004.

Dr. Cr.
01-1110-000 8,867
01-6702-000 6,399
04-3448-004 2,468

It should have posted as follows:
01-1110-000 6,399
04-1110-004 2,468
01-6702-000 6,399
04-3448-450 2,468

I tried reversing the original entry, but always get an out of balance error. That makes sense because it wouldn't balance.

Do I void the check and then do a journal entry to make the distribution is correct?

Thank you,

Maurice

Its best to find the check in Accounts Payable, and void and reissue. Use the same date, and check number, then fix the distribution there.

[tfitch]

NeilZ,

Thank you!

Maurice