User Support Forum

I have multiple funds with each having their own checking accounts. I wrote a check for $150 from the wrong checking account (Fund 01)but I posted it to the correct fund (Fund 02).

While reconciling the Fund 01 checking account I caught the error and now I need to adjust the checking account balance.

Now I am stuck & don't know how to correctly account for the check that was written from the wrong checking account.

Let me clarify this:

The check was written from:
01-1110-000 GENERAL Checking for $150 - Credit

The transactions was made:
02-1120-000 BUILDING FUND Checking - Credit
02-8015-000 Appraisals/Opinions - Debit

The transaction WOULD HAVE been correct were it not for the fact that I printed a check from 01-1110-000 instead of hand writing a check from 02-1120-000.

If I understand what happened correctly the 02-1120 account should also be out of balance when you go to run the bank recon for the fund 02 checking account. Since you used the Fund 01 checking account to pay a fund 02 expense you really made a transfer of funds from fund 01 to fund 02. To correct you will need to input a transfer from 01 to 02 as follows:

Debit 01-9XXX Transfer To Fund 02
Credit 01-1110 Checking Account Fund 01
Debit 02-1120 Checking Account Fund 02
Credit 02-9XXX Transfer From Fund 01

Thank you Matt -

That seemed to be the correct way to handle this, but I wasn't sure. I'm a little unhappy with myself for writing a check from the wrong account in the first place, but I wanted to make sure that I corrected it properly. I don't relish the thought of having a trail of correcting entries. I prefer to do things right the first time.