Correct AP posted to wrong fund

[batag]

Paid invoice, printed check and posted in AP and Fund Accounting. Realized after the fact that credit/debit was posted to the wrong fund. Reversed in Fund Accounting, but not sure what to do next. Void the check? If so, then what? (Sorry, newby here)

[NeilZ]

Paid invoice, printed check and posted in AP and Fund Accounting. Realized after the fact that credit/debit was posted to the wrong fund. Reversed in Fund Accounting, but not sure what to do next. Void the check? If so, then what? (Sorry, newby here)

OK .. in future, you should always void from the Accounting module where the transaction originally came from.

Right now, you should VOID the the check in AP.

1. Post anything currently sitting in AP to Funds Accounting
2. Do the void of the Check then REISSUE as a MANUAL CHECK using the CORRECT accounts, original date and check number.
3. Post Accounts Payable.
4. Since you've already reversed the transaction in Funds Accounting, you will need to DELETE the VOID transaction from the Unposted Transactions queue in Funds Accounting. You're doing this because you previously reversed the transaction

When you first reversed the transaction, you should have received a message that the transaction came from AP, and you should void it there. In future, don't disregard that notice.

[batag]

Thank you for your help! I followed the instructions you provided and was able to re-issue the check manually to the correct accounts. I did notice that when reconciling the bank account for this month, there are two check entries for this transaction and one 'Deposit' entry (the reversal). The only way I can obtain a zero balance is to reconcile only one of the check entries. Is this acceptable, or will this create a problem in the future?

[NeilZ]

Thank you for your help! I followed the instructions you provided and was able to re-issue the check manually to the correct accounts. I did notice that when reconciling the bank account for this month, there are two check entries for this transaction and one 'Deposit' entry (the reversal). The only way I can obtain a zero balance is to reconcile only one of the check entries. Is this acceptable, or will this create a problem in the future?

If the original check did not clear the bank yet, and I'm assuming it didn't, then you're fine.

What you're seeing is the original check, and the void/reversal. Checking both transactions off basically cancels each out.

If the check DID clear the bank, then there something else going on, please let us know.

[batag]

Ok, the original check is not listed on the bank statement I am reconciling, so I guess all is well. Thanks again for your help.

[NeilZ]

Ok, the original check is not listed on the bank statement I am reconciling, so I guess all is well. Thanks again for your help.

OK .. didn't clear the bank yet, so the next reconciliation will see that, if it clears