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E
eZ Bookkeeping
August 24, 2021
Question

Bank adjustment error by bank. How to record the transactions?

  • August 24, 2021
  • 1 reply
  • 0 views
My clients bank did a deposit adjustment of "9 cents" in June (when there was no actual payment of 9 cents), then the bank corrected their mistake in July by reversing the $0.09. 
 
What GL codes should I use for each of these transactions (aka the initial deposit and the reversal)?

1 reply

T
tipler03
August 24, 2021

You can use Bank Service Fees or something similar.  The most important part is to make sure that you put both against the same account so it 'washes' one another out.  

E
eZ BookkeepingAuthor
August 24, 2021

The client would use "Bank Fee" under Income for the incoming 9 cents then "Bank Fee" under Expenses for 9 cents being reverse, correct?

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