PSA L&P - Bank reconciliation: How to update the ledger when the bank cleared a check for the wrong amount

How to update the ledger when the bank cleared a check for the wrong amount

There are three possible ways to fix this problem:

  • The easiest solution is to make a journal entry. This option also ensures an accurate record of what actually happened.
  • You can fix the error by voiding the check,  copying the bill, and assigning a check number. See this article for the steps. This option is not recommended since it eliminates the electronic trail of what actually happened.
  • If you have permission to delete checks, delete the original check and enter a corrected check. This option is not recommended since it eliminates the electronic trail of what actually happened.

 


Related Articles

How to void or delete a check

How to record a bank mistake

How to void a check and make a copy of the bill

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