As we continue through 2025, it's not uncommon to encounter errors such as inputting the wrong posting dates on documents. For instance, you might find an invoice that should be dated January 5, 2025, accidentally entered as January 5, 2024.
When faced with this issue, especially in large batches, the initial reaction might be to issue a journal entry to correct the posting month in the General Ledger (GL). However, it's important to note that making journal entries to control accounts can result in discrepancies between the General Ledger and subsidiary ledgers, leading to imbalances in Aged and Trial Balance reports when compared to the General Ledger Trial Balance.
To correct these errors, although time-consuming, the following steps are recommended. For large batches, you may consider seeking assistance from RKL to help import the corrected invoices.
Reverse an Invoice Posted with Wrong Date
Here’s a step-by-step guide using Accounts Payable (AP) as an example:
1. Create a credit memo AP invoice with the incorrect date
- If the original invoice number is 123, label the credit memo as "123CM" or "123R."
- Post the credit memo following the same steps as the original entry.
- This will reverse the original Accounts Payable Account and the associated Expense.
2. remove the transactions and manual check for zero dollars
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Now, you will remove the transactions from the AP Aged and Trial Balance reports and process a manual check for zero dollars
- Go to Accounts Payable -> Main-> Manual Check and Payment Entry.
- Select the vendor.
- When entering the Check Number, use 'APPLY', which will set the amount to zero and grey out the dollar field.
- Match the negative and positive invoices that net to zero to eliminate the amounts from the records.
- Use the same incorrect date you initially posted to the GL for these updates.
3. Generate a new invoice
- Finally, you will generate a new invoice (such as 123-A) with the correct date and post it to the correct GL date.
By following these steps, you ensure that your financial records remain accurate and that your General Ledger aligns with your subsidiary ledgers, maintaining the integrity of your financial reporting.
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