User Support Forum

After depositing our Sunday tithes recently, I noticed on the deposit slip that the teller made an error recording the deposit as being $100 more than it actually was. They made a deposit adjustment the following day to correct the error. I assume I need to record the $100 debit and credit to the checking account in PCP for an audit paper trail, but am not sure how to do so. Could you please explain what I need to do?

gccc wrote: ↑

Thu Oct 03, 2024 11:23 am

After depositing our Sunday tithes recently, I noticed on the deposit slip that the teller made an error recording the deposit as being $100 more than it actually was. They made a deposit adjustment the following day to correct the error. I assume I need to record the $100 debit and credit to the checking account in PCP for an audit paper trail, but am not sure how to do so. Could you please explain what I need to do?

You can if you wish, its not really needed since the bank made the mistake and corrected it and this will appear on the bank statement. All you really need to do is when you do the end of month reconciliation, add a note to the reconciliation report pointing out the bank's error. I usually attached the reconciliation to the bank statement so they're both together, and that note would suffice for the audit trail since it was the banks error, not the church's.

If you really want to 'fix' this, then you should go into Fund Accounting, find the original deposit and reverse/correct it, using the same date, renter the deposit total as $100 less than what was originally entered, and add a note in the note box about why this was done. Then add another deposit using the same date, to cover the $100.

As you can see, its more work for you to 'correct' the bank's mistake, than just to add the note to the reconciliation and bank statement pointing out that the original deposit was incorrectly entered by the bank, and corrected on the next day.