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Customer payment posted to wrong period

  • 26 July 2022
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D
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Hi everyone,

Hoping someone can help us.

We posted a customer payment to 20 June 2022 in 09-2022 period but should have been 20 July 2022 and 10-2022 period.

 
We have re-done the payment to 20 July 2022 in period 10-2022 however, when we voided the initial incorrect payment (posted in period 09-2022), we accidentally used the wrong period (10-2022). Now the bank reconciliation is out by the same amount.


There doesn’t seem to be an option to reverse a void payment unfortunately. 

Much appreciated,

Daniel
 

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Best answer by Laura02 26 July 2022, 14:15

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Laura02
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Hello,

I understand cash was reduced in June and you need to increase it.  Then you need to reverse the entry in July. Here is an idea that may work:

In GL Journal Transactions, Post a GL entry with date 20 June 2022, to period June with debit to cash and credit to another account, such as a Clearing account (maybe cash in transit -- doesn’t really matter so long as it’s a non-cash account and you use the same account in next step).

Now you can balance the reconciliation statement for June.

In GL Journal Transactions, Post a GL entry with date 20 July 2022, to period July with credit to cash and debit to the same clearing account used in prior step.

 

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~

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