User Support Forum

I issued a check, credited the checking, debited the expense account, debited the release restricted amount and credited the 4999 release from restriction account. Now, cash is being returned to be deposited.

It is not really a contribution, more of a reimbursement of unused funds. What should the journal entry look like?

I'm guessing I should debit the checking, credit the expense account as I would any reimbursement and credit the release account and debit the 4999 account.

Any input?

Eileen wrote:I'm guessing I should debit the checking, credit the expense account as I would any reimbursement and credit the release account and debit the 4999 account.

That sounds correct to me. You are basically "reversing" the unused amount, so you would be doing the exact opposite of the original transaction.