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How do i create a journal entry for a bank error

DarylK

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?

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Accepted answers

Steven_M

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.

All comments

DarylK

thanks!

DarylK

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

I'll create an expense account

Steven_M

Hi @DarylK