Ask Experts Questions for FREE Help !
Ask
    DDTAP's Avatar
    DDTAP Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 27, 2006, 09:09 PM
    Deposit error / correction
    I am bookkeeper for a non-profit company. I take care of two accounts - I will name them General Account and Party Account. I made a deposit to General Account, but the deposit slip was to the Party Account. I know I will have to write a check from the general account to deposit into the party account, but what Journal Entries should I make to correct the mistake. When I post the cash - which accounts do I use? Any help would be greatly appreciated.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #2

    Jan 27, 2006, 09:28 PM
    No need to write a cheque, just transfer the money from one account to the other. Anyway, the JE would be:

    Dr. Party Account
    Cr. General Account
    done''s Avatar
    done' Posts: 6, Reputation: 1
    New Member
     
    #3

    Jan 27, 2006, 11:01 PM
    Quote Originally Posted by DDTAP
    I am bookkeeper for a non-profit company. I take care of two accounts - I will name them General Account and Party Account. I made a deposit to General Account, but the deposit slip was to the Party Account. I know I will have to write a check from the general account to deposit into the party account, but what Journal Entries should I make to correct the mistake. When I post the cash - which accounts do I use? Any help would be greatly appreciated.
    Depending on what type of account they are IE: Business account. You will have to write a cheq to deposit in the correct account.. And reference to deposit to wrong account... That is what is done at the credit union.. I am a supervisor there.
    Hope this is what you needed

    Done'

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Correction-GFI & AFI Breakers & Shared Neutrals [ 3 Answers ]

I need to submit a correction to some advice I had furnished in the past regarding Ground Fault and Arc Fault circuit breakers being used on shared neutrals. I had in mind the typical single pole 120 volt breakers that will not work if two breakers are used for two 120 volt circuits that share a...

Deposit [ 6 Answers ]

In Pa. does a landlord have to put deposit in a escrow account. I have looked it up and think they have to. My landlord is taking me to court 6/26/06 because I didn't meet his standard of keeping house. I have a list of repairs that he hasn't done. I paid a months rent and deposit 11/01/05 and...

Color correction [ 1 Answers ]

After I use either Colorfix or Colorzap, I will need to recolor. I want a light to medium brown. I have heard that sometimes, even after color correction, the hair will go back to dark brown or black unless a very light color is used after stripping. So, my questions are: (1) Will light brown...

Deposit [ 2 Answers ]

Refundable deposit is classified as liability or not?

Deposit help [ 2 Answers ]

I moved into an apartment in 11/2004 and paid a $600.00 deposit. I gave my 30day notice and moved out on 01/06. No one was available to do a walk through with me due to the holiday weekend. I am now getting a letter in the mail that I owe 300.00 and they are keeping my deposit. I tried to talk...


View more questions Search