FAQ #: 98
I made journal entries using an incorrect date. How can this be fixed?

A problem with journal entries dated incorrectly can be fixed one of several ways. The following solutions are all valid, but the appropriate one should be selected based on the situation.

First, verify if the journal entries can/need to be "reversed" or voided in the program that made them. For example, if you wrote A/P checks and dated the checks incorrectly, then you may need to simply void the checks in A/P and rewrite them using the correct date. This will create a "reversing" entry in the journal entries. If you cannot void or reverse the entries through the program that created them, then you need to use one of the other correction options. If you do void or reverse entries through a program, you will have two entries dated in-correctly, the original entry and the reversing entry. These entries will net out to zero and should be posted to the General Ledger Master File at some point. An appropriate period for this posting might be period 13, the adjusting period. This will not affect the balance on the accounts since the two entries will net each other out.

A second option is to simply change the date on the journal entry. This could be done with manual journal entries to reverse out the incorrect entry and make correct entries manually. An easier way is to use the G/L Journal Entry Maintenance program. This program allows you to change journal entries.

If you are using the Windows version of Answers, you can change the journal entries through the G/L File Maintenance program. Bring up the account in the maintenance program. Click on the Account Activity tab. Click once to highlight the entry that you need to change. In the lower right-hand corner, there will be a button "Change Entry". Click this button to modify the date.

If you are a character user, before using the G/L Journal Entry Maintenance program, you will need get some information on the journal entries that are incorrect. Use the Account Inquiry program to get this information. You will need the account number, date on the entry, and the transaction number. The G/L Journal Entry Maintenance program is located on the G/L File Maintenance menu. Enter the account number, date on the entry, and the transaction number. The remainder of the entry will be shown. Answer "Y" to change the entry.

Keep in mind when modifying journal entries using the G/L Journal Entry Maintenance that you need to make sure and change all journal entries affected. For example, if the incorrect entries were made during an A/P check run, you will need to change entries made to the Cash and the Accounts Payable accounts. Additionally, if you took discounts, there will be entries to the Discounts Earned account as well. It is important to change all entries, otherwise, you will create a G/L out of balance situation.