reclass/new checking account

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

Moderators: Moderators, Tech Support

Post Reply
whfpc
Posts: 135
Joined: Tue Aug 15, 2017 11:32 am

reclass/new checking account

Post by whfpc »

Hi, we are on PC Plus 12, we changed banks the beginning of the year and I have some youth expenses that we debited to the incorrect accounts while using the old checking account (1110-000). In fixing them I voided the check and when I re-entered the transaction I copied the transaction information from that voided check using the old checking account (1110-000). Before posting I ran a balance sheet and included unposted transactions and now I have a negative under the old checking account (1110-000) totaling the amount of my corrections (I don't know if that makes sense). When re-entering the transaction should I be using the new account (1120-000)?

Robin

bookshelpplus
Posts: 5
Joined: Wed Oct 02, 2013 12:52 pm

Re: reclass/new checking account

Post by bookshelpplus »

Yes, when re-entering the new transaction you should be using the new account. You will need to void those transactions again and re-enter them with the new account.
Cindy Howard
help@computeraccounting.org
Computer Accounting Support

whfpc
Posts: 135
Joined: Tue Aug 15, 2017 11:32 am

Re: reclass/new checking account

Post by whfpc »

I have not posted the transactions yet, can I just correct it in modify unposted transactions?

Robin

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: reclass/new checking account

Post by NeilZ »

whfpc wrote:I have not posted the transactions yet, can I just correct it in modify unposted transactions?

Robin
Robin,

did the checks already clear the old bank?

If so, you should VOID the check from Accounts Payable and post in the original posting month, then reissue the check via manual checks (using the same check number) and the old checking account, and again post in the ORIGINAL posting month.


You can test this:

Do a Powerchurch backup and only backup the Accounting files, make sure you have the transactions entered and posted in the same month as originally issues as noted above. Then run the Balance Sheet you should not see any negative number.

The reason I say this is as follows:
1. You voided and returned the money to the old checking account and posted to December .
2. You then reissued the check to the old checking account and then posted back to Decmeber

The transactions will cancel each other out. If you still see the same error, or if these checks did not clear the account that's a much different issue, let me know.
Neil Zampella

Using PC+ since 1999.

whfpc
Posts: 135
Joined: Tue Aug 15, 2017 11:32 am

Re: reclass/new checking account

Post by whfpc »

It does show the negative, I have not posted the transactions yet but when I run the balance sheet I choose to include the unposted transactions and it shows a negative....

Robin

whfpc
Posts: 135
Joined: Tue Aug 15, 2017 11:32 am

Re: reclass/new checking account

Post by whfpc »

And yes they checks have cleared

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: reclass/new checking account

Post by NeilZ »

whfpc wrote:It does show the negative, I have not posted the transactions yet but when I run the balance sheet I choose to include the unposted transactions and it shows a negative....

Robin
What is the date of the replacement manual check? It should be the same date as the original, and should POST the same month as the original check.

As I mentioned, do a backup, and POST both transactions from Accounts Payable to Funds Accounting, then post to Funds Accounting.

Run the Balance Sheet ... it should not show a negative on the old account. If it does there is something off somewhere, and restore the accounting files backup you just made.
Neil Zampella

Using PC+ since 1999.

whfpc
Posts: 135
Joined: Tue Aug 15, 2017 11:32 am

Re: reclass/new checking account

Post by whfpc »

What I had not done was post to accounts payable, once I figured that out it all balanced :)

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: reclass/new checking account

Post by NeilZ »

whfpc wrote:What I had not done was post to accounts payable, once I figured that out it all balanced :)
That's what I was thinking, which I why I pointed it out in my last reply :)
Neil Zampella

Using PC+ since 1999.

Post Reply