Forum Discussion

DarylK's avatar
DarylK
Experienced User
4 years ago

How do i create a journal entry for a bank error

Recently our bank erroneously debited $117,000 from our bank account back to one of our customers (yes, I know).

A month later they refunded the money.

How do I record these two events in the latest version of Accountright?

 

  • Hi DarylK 

     

    Depend on the records required, you could just do a simple Spend Money transaction for the money coming out and then a Recieve Money transaction for it coming back in. You would typically have the same allocation account on that both transactions so there is no long-term effect on that account.

  • Hi DarylK 

     

    Depend on the records required, you could just do a simple Spend Money transaction for the money coming out and then a Recieve Money transaction for it coming back in. You would typically have the same allocation account on that both transactions so there is no long-term effect on that account.

  • DarylK's avatar
    DarylK
    Experienced User

    Thank you!
    I was not sure if a journal entry was the way to go.

    I'll create an expense account