QUESTION:
How do you adjust the amount of a posted check through the Check for Wrong Amount Journal Entry?
PROCESS:
From JE’S > Edits > Check for Wrong Amount
Use this journal entry to correct a check posted for the wrong amount. This entry will adjust a posted check in SFO to match the amount that cleared the bank.
Note: The check must NOT have been reconciled during a previous reconciliation OR checked off while performing a current reconciliation.
Enter a Transaction Date.
The default date is the current statement ending date of the bank reconciliation in process.
The transaction date should always be within the month that is being reconciled.
Enter the Check Number of the check to be corrected.
Click the Tab key
The Account number and the original amount of the check will quick fill as the New Amount.
Select the Account number to post the corrected amount to.
If more than one account number was referenced on the check, use the drop-down list to select the Account number you wish to correct.
Enter the New Amount that should be posted to the selected Account.
Enter a Reference (description) for this entry.
Enter any Additional Comments description for this JE. This information will only print on the proof sheet and is not saved within SFO.
Click the Preview button.
Verify – Is all the information correct on the JE proof sheet preview?
If Yes – click the Post and Generate Final Proof button.
If No – navigate to JE’s > Edits > Check for Wrong Amount again to clear the screen and start over.
When the final Journal Entry Proof Sheet displays, the JE is posted and the JE # is assigned.
Be sure to click on the printer icon to print the JE Proof Sheet for your records.
The JE Proof Sheet can be reprinted from the Review JE’s screen.
Note: This type of Journal Entry CANNOT be voided through the Void JE screen.
For instructions on how to “reverse” a Check for Wrong Amount JE, see Related Articles below.
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