User Support Forum

I need to correct a transaction from MAY where I wrote a check using restricted money. The problem, for once, does not involve the releasing of restricted monies, I just used the wrong expense account. The problem is that I used an "equity" account # rather than an "expense" account #.

Can I reverse the transaction in Fund Accounting and then just re enter the ck correctly in Accounts payable or does the reverse and correction have to be in the same module?

Also, should I post the corrected transaction to the month the original check was written?

Thanks for any help,
Jill

Basically, you made a Fund Accounting error, not an Accounts Payable error.

Just make your correction in Fund Accounting and let Accounts Payable be.

You can simply reverse the transaction in Fund Accounting. If you go to "View Posted Transactions" there is a REVERSE button after you locate the transaction. If the month of the original transaction is still open, it is always better to do the corrections in the same month as the original, whenever possible.

Then, enter the right transaction and post it.