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    DDTAP's Avatar
    DDTAP Posts: 1, Reputation: 1
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    #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
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    #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
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    #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'
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