Mistake in entering check causing massive headache

[Turning Point]

When reconciling our checking account I realized I had made a mistake and I cannot figure out how to correct it, or if it even can be corrected. I am hoping someone here will save me!

We wrote a check to our contractor. Below is what it looks like in Powerchurch. The check was written for 97382.20 but when I try to reconcile, the number in Powerchurch is 94,344.89. We are required to withhold a 5% retention fund until the job is finished. I withheld it in Powerchurch but not on the check.

Frankly, no matter how I look at this I cannot figure out what I actually did.

24-1110 Checking CR 94,344.89
24-2050 5% Retention CR 3037.31
24-6335 Remodel DB 56189.03
24-6335 Remodel DB 40975.42
24-6335 Remodel DB 217.75

I hope you can help.

[NeilZ]

When reconciling our checking account I realized I had made a mistake and I cannot figure out how to correct it, or if it even can be corrected. I am hoping someone here will save me!

We wrote a check to our contractor. Below is what it looks like in Powerchurch. The check was written for 97382.20 but when I try to reconcile, the number in Powerchurch is 94,344.89. We are required to withhold a 5% retention fund until the job is finished. I withheld it in Powerchurch but not on the check.

Frankly, no matter how I look at this I cannot figure out what I actually did.

24-1110 Checking CR 94,344.89
24-2050 5% Retention CR 3037.31
24-6335 Remodel DB 56189.03
24-6335 Remodel DB 40975.42
24-6335 Remodel DB 217.75

I hope you can help.

OK ... so, the amount of the contractor's bill is 97,344.89. Of that amount, you must retain 5%. Was the check printed at the full amount? If so, you made a mistake and because of that, you didn't property hold the 5% since you still printed the check at the full amount.

I'm assuming that because you say the check was written for 97382.20, and that is probably what cleared the bank.

What I would do is VOID the current check, and recreate the check using the MANUAL check function. Enter the original date and check number, recreate the check but do not enter the Liability amount.

If I've misunderstood what you said please let me know.