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I think I already know the answer to this question; I need to reverse said transactions and re-do them to the correct sub account.
I'm the new Administrator and after I was asked to print this years accounting info, we noticed that certain transactions were improperly applied to the wrong designations. I am assuming the only way to fix this, as they are already posted, is to reverse them and re-do said transactions? There are only a handful, anyway.

ShannonW wrote:I think I already know the answer to this question; I need to reverse said transactions and re-do them to the correct sub account.
I'm the new Administrator and after I was asked to print this years accounting info, we noticed that certain transactions were improperly applied to the wrong designations. I am assuming the only way to fix this, as they are already posted, is to reverse them and re-do said transactions? There are only a handful, anyway.

Probably. However, if the transaction was created in Accounts Payable, you should VOID the existing check transaction, and reenter using a MANUAL CHECK.

Basically, you'd use the same check number, date, checking account and amount, and just change the expense account used.

If the transaction was created in Funds Accounting, you can just reverse and enter a replacement transaction, again using the correct expense account.

Does this help?

Yes! Thank you so much!

ShannonW wrote:Yes! Thank you so much!

No problem .. just want to clarify .. you VOID those AP transactions IN Accounts Payable and reenter there using a manual check .. I wasn't clear in my original posting.