Correcting Transfers In a Previous Month

Incorrect Amount or Account

Click Transfer Funds. Reverse the incorrect Transfer by making a new entry with the "from" and "to" accounts swapped. Use the same amounts as the original transfer. The memo should identify the specific entry being corrected (use the date) and give a reason for the correction. Once that reversing entry is completed, click New Entry. Then re-enter the Transfer with the correct information.

If the transfer was between bank accounts, click off both the original transfer and the reversal in the bank reconciliation. If done correctly, they will cancel each other out.

Duplicate Transfer

Go to Transfer Funds. Reverse the duplicate Transfer by making a new entry with the opposite amount. The memo should identify the specific transfer being reversed (use the date) and give a reason for the reversal.

If the transfer was between bank accounts, click off both the original transfer and the reversal in the bank reconciliation. If done correctly, they will cancel each other out.