Electronic transfer / Bank feed

Question

We have paid a supplier via a electronic transfer and was advised after payment that the bank account details were incorrect. The money has come back into our account and we have re paid the invoice direct deposit. I now have two amounts in my bank feed, one deposited and one withdrawal that I cant allocate. The amount paid dd needs to be allocated to invoice that is showing paid via the initial electronic transfer. Do I reverse this payment? If so what do i do from there

Thank you

lrbooks61 · Answer

hi&nbsp;the simplest way to deal with this is to allocate the bounced entry and the corrected entry to the same gl account as they will reconcile the bank but effectively cancel each other out.&nbsp;You could set up a clearing account in the gl or allocate as per the original invoice allocation ( do a recieve Money and a spend money transaction). just make sure that the entries are exactly the same&nbsp;&nbsp;hope that helps&nbsp;Lisa

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Electronic transfer / Bank feed

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