[Question] Processing in wrong cashbook

[LBHdG]

Hi there,

I process statements for a client who has had approximately ten different bank accounts in the last ten years. I'm rather new to the company, so I accidentally opened the wrong FNB Cashbook on Pastel and processed + updated.

How to I correct this? Is there any way to remove these transactions from the incorrect account and transfer them to the correct one (so that all relevant transactions will display)?

Thanks

[Mike C]

Hi LBHdG,

First make a backup before you do the following entry so that if you are not happy with what you have done you can restore to your previous state.

Enter the incorrect transactions in exactly the same way in which you entered them in the first place (same cash book, same date etc) ... but ... make the amount entered a minus amount. Then update. Once your correction is done, make the correct entry in the correct cash book.

[KimH]

I had this happen to me a number of years ago and if there's anything that triggers my OCD its a whole bunch of correcting journals in my books of account

What I do now is a simple two step process that has worked well for me so far:

1. Before I start processing I compare the closing balance of the cash book that I'm in (Top right of the cash book you will see 'Balance' and the closing balance for that particular cash book on Pastel) to the opening balance of the bank statement I'm about to process
2. I do a bank reconciliation before updating the payments and receipt batches - this way any finger errors can be corrected before committing to an update

Good luck and happy holidays