Bank Correction

If you have a check that you captured at one amount but the bank captured at a different amount, your approach to correct it depends on how far you are in the contributions process when the issue was identified: 
  • Have you already exported the original deposit to your accounting system?
  • Will your bank show this correction as a separate journal entry or did they modify the deposit amount initially credited to you? 
These are the possible solutions, depending on your situation:
  1. You didn't export the Deposit to accounting system yet and the bank made the adjustment to initial deposit. In this case, correct everything in the original Batch. Adjust the Deposit total if needed.
  2. You exported everything to the accounting system and the bank made an adjustment to the initial deposit. In this case, an adjusting entry is needed. Create a new Donation in a new Batch. A note for your month-end bank reconciliation needs to be made since two items in your bank reconciliation offset one on your bank statement.
  3. You exported everything to the accounting system and the bank made a separate, correcting journal entry. In this case, an adjusting entry is needed. Create a new Donation in a new Batch. Bank reconciliation should be fine since your two items exported to the accounting system match two items at the bank.
  4. You didn't export everything to the accounting system, but the bank made a separate, correcting journal entry. In this case, allow your original mistake to flow through to General Ledger then make a correcting entry (same as #3).
 

Last Modified: 5/3/2018

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