QUESTION: 

How do you Void / Reverse a Receipt to Wrong Account Journal Entry? 

 

If a Receipt to Wrong Account journal entry was posted incorrectly and needs to be effectively “voided”, you will need to make a reversing journal entry. 

 

PROCESS: 

From JE’s > Edits > Receipt to Wrong Account 

 

If this was the Original Receipt to Wrong Account Journal Entry you posted:  

 

 

 

This is the REVERSING journal entry you would need to post: 

 

 

On the reversing Receipt to Wrong Account JE: 

 

  • The Transaction Date can be the current date or the same date as the original JE (as long as the original date is not in a reconciled month). 

 

  • The Wrong Account will be what was the Correct Account on the original JE. 

 

  • The Correct Account will be what was the Wrong Account on the original JE. 

 

  • The Receipt Amount should be the same as what was on the original JE. 

 

  • The Reference should be ““Reversing JE # < ####> “

 

This is what the reversing JE Proof Sheet would look like for this example: