Need to correct entries from July 2011
Posted: Thu Jan 19, 2012 11:04 am
I took over PC this year, with minimal training 
I made some entries posting to the wrong account and now need to correct them. Do I just reverse the entry and post it correctly? Do I need to go back and re-reconcile that month's bank statement? Or just click both items this month when I reconcile? Do year-end entries have anything to do with this?
Example: Entered check 1234 under "Loan repayment" in July 2011
Check 1234 should have been under "Benevolence"
I'm hoping the easy answer is to reverse the original entry, then re-enter with same date and correct account entry? Thanks!
I made some entries posting to the wrong account and now need to correct them. Do I just reverse the entry and post it correctly? Do I need to go back and re-reconcile that month's bank statement? Or just click both items this month when I reconcile? Do year-end entries have anything to do with this? Example: Entered check 1234 under "Loan repayment" in July 2011
Check 1234 should have been under "Benevolence"
I'm hoping the easy answer is to reverse the original entry, then re-enter with same date and correct account entry? Thanks!