Correct Undeposited Funds Posting
Table of Contents
Overview
If a transaction in the undeposited funds screen gets deposited for the wrong amount or terms, you need to make some correcting Entries. If you need to correct something after they were posted from undeposited Funds, then see Correct Bank Posting.
Posted to the Wrong Terms or Amount
To correct Terms/Amount, we will need to make two entries. One to reverse the wrong transaction; the other to post it correctly.
Step-by-Step
Go to the Undeposited Funds Screen
BNK>Bank Accounts>Undeposited Funds
Go under Edit Funds tab on the right
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Enter your Transactions
Select Register
Make sure it uses the same Branch as the original transaction
Enter Description
i.e. Reverse Bad Terms
Select Terms
Same as original Post for Reversal/New if Amount is the issue
Different for New Post if Terms were wrong
Enter the Trans Date
Same as Original
Enter the Amount
Reversing is the opposite of the original post (positive is negative, negative is positive)
New Post is the same as Original if Terms was the issue
New Post is the correct Amount if that was the issue
Hit the Submit button
Hit Yes to the prompt
Example
Example transaction to reverse
This transaction was set to Check, when it should have been the Visa.
Reversal Example
To move the amount, we create 2 Entries under the Edit Funds tab. One entry to reverse the amount from Checks, and the other to add the amount to Visa.
What it Looks like in a Batch
When you create your batch, the original entry, the reversing entry, and the new entry can be selected together to zero out the original and reversal while posting the correct transaction.
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