I have receipted the incorrect amount into my file, how can I amend the receipt?
Once a receipt has been entered, it cannot be amended. The best way to fix this is by a subsequent receipt to bring the file to the required position. If the incorrect receipt was lower than that required, an additional receipt for the difference is all that is needed. Please note if you have already printed your banking summary for the day, enter the additional receipt as an EFT to ensure it isn’t included in the following days banking. If the incorrect receipt was higher than that needed, a receipt for negative amount can be done. You can either negate the full receipt and then redo the receipt for the correct amount, or you can negate the difference.
In all cases, all receipts are to be ticked off when doing the end of month bank reconciliation.
How can I cancel an EFT transaction?
If you have posted an EFT in error, the easiest way to cancel it is to receipt the funds back to the file. Ideally we would like to date this receipt the same day that the EFT was processed, but if this is not possible (ie, you have locked the reconciliation) you can receipt it to the next earliest date.
In this case, when doing the end of month trust balancing, mark off the EFT as being presented and the receipt as being banked.
I have processed the incorrect amount to the Stamp Duty Holding account, how can I resolve this?
If you the amount posted to stamp duty was too low, you will need to create a new entry on the processing screen and post the amount required to the holding account. You will need to have funds available in the file to be able to do this. When processing the stamp duty batch, you will need to tick off two entries, the original amount posted and the extra amount posted. They will be separate items to be ticked off.
If the amount posted was too high and you need to return the excess to the file, you will need to do a journal from the stamp duty holding account (99997) back to the file. When you process the stamp duty batch, there will be 2 entries to tick off. One will be the original amount posted and there will also be a negative amount created by the journal. Ticking both of these items off will balance the batch.
How can I “uncancel” a cheque?
Once a cheque has been cancelled it cannot be uncancelled. If you have cancelled a cheque in error (whether it has been posted or not) and you need to re-issue a cheque with the same number, the best thing to do is to create an EFT entry for it. In the payee of the EFT use “Re-issue of cheque number ###”. When this cheque is presented, you tick off this item in the reconciliation.
A cheque has been presented at the bank for a different amount to what was drawn in cats?
If the amount debited by the bank was higher than what was drawn in cats, you will need to create an EFT entry on the processing screen for the difference. Use the payee “Amendment to cheque ####” and tick off both items when doing the monthly reconciliation. You will need to have funds available in the file to do this.
If the amount debited was lower than the amount drawn, you can correct this by receipting the difference to the file (use an EFT receipt). In the description of the receipt use “Amendment to cheque ###”. When doing the monthly reconcile, tick off both the presented cheque and the receipt.