Correcting General Journal Entries In a Previous Month
Go to Accounting / Make General Journal Entry. Reverse the incorrect General Journal by making a new entry with the opposite amount (income instead of expense, or vice versa). The memo should identify the specific entry being corrected by its date or transaction number, and give a reason for the correction. Once that reversing entry is completed, click New Entry. Then re-enter the original General Journal with the correct information. Use the memo to connect the re-entry with both previous General Journals via date or transaction numbers. At your next Bank Reconciliation, mark off both the original and the reversing entry.
You can also correct by entering a single correcting entry, if you can clearly identify the amount and direction (income/expense) of the correction.
Duplicate General Journal Entry
Reverse the incorrect General Journal by making a new entry with the opposite amount (income instead of expense, or vice versa).
- Find the extra General Journal Entry in a report (Deposit or Check, or Account Journal) and click on it. Take a screenshot or cellphone picture of it to make sure you create an exact reversal.
- Click on “New Entry” right there on the same screen. Date it in Jewel’s current month.
- Change the amounts in “Income” to “Expense” or vice versa, reversing the original entry. Post to the same Accounts.
- Memo: “To reverse (date of the erroneous entry) entry error.”
- Verify with your picture that everything is correct.
- Click Ok.
- Click off both the original and the reversal during reconciliation. If done correctly, they will cancel each other out. If it was not done correctly, do not create another entry. Edit the one you just made, or delete it and try again.