User Support Forum

Hi


We already closed out last year and do not have access to 2012 posted transactions. This being said, we found an entry in bank reconciliation that was entered incorrectly.

There was a debit Fund Accounting posting of $24,066.55 Dec. 2012 that should have been $24,006.55. Last year was closed already and no posted transactions show anymore; cannot reverse posting.

Our thought is to do a credit Fund Accounting post of $60.00, within the same account, to reflect an error and post it this month.

Just wanted to verify this is legimate before posting.

Thank you

You could do that, or if that messes up your yearly budget for 2013, you could do this:

CR 01-1110-000 checking $60.00
DB 01-3110-000 unrestricted net assets $60.00
and date the transaction for 1/1/2013.

In general, you should reconcile all bank accounts to 12/31/2xxx before closing the year.

This is one of the reasons I remind users that you can keep up to 18 months open in Funds Accounting.