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Post Info TOPIC: Correct error directly or correct an error with a journal


Member

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Correct error directly or correct an error with a journal


I have my own views on it but I would be interested in the views of others.

If a bookkeeper allocates a payment to the wrong balance sheet account is it better to then

a) just correct the original journal

or

b) enter a further journal to correct the error?

For background, the scenario is that these are entries in Xero (so there is an audit trail saying by who, when and where entries and corrections were made) and the error was discovered and corrected within a week of the transaction date.



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Harry



Guru

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So what are your views?

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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Member

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I'm a bit biased because my main function is to read through, check and explain lists of transactions from Xero. It is therefore annoying and harder to explain to others if there is an entry going into the wrong account and then reversed on the next line.

My view therefore is that it is better to correct the original.

What would you do?

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Harry



Master Book-keeper

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I'd definitely go with correcting the original journal, why further complicate things?



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John

Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.

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