QUESTION:
How do you Void / Reverse a Receipt for Wrong Amount Journal Entry?
If a Receipt for Wrong Amount journal entry was posted incorrectly and needs to be effectively “voided”, you will need to make a reversing journal entry.
Note: The receipt/deposit must NOT have been reconciled during a previous reconciliation OR checked off while performing a current reconciliation.
PROCESS:
From JE’s > Edits > Receipt for wrong amount
If this was the Original Receipt for Wrong Amount Journal Entry you posted:
This is the REVERSING journal entry you would need to post:
On the reversing Receipt for Wrong Amount JE:
- The Transaction Date should be the same date as the original JE (as long as the original date is not in a reconciled month).
- For the Account - select the same Account on the original JE.
- For the New Amount - enter what was the Old Amount on the original JE.
- The Reference should be ““Reversing JE # < ####> “
This is what the reversing JE Proof Sheet would look like for this example: