How to fix a 50 cent bank error

[Anita Graves]

Maf. and Colin,

What I have done:  I went back to the original transaction where I deposited the cash at the bank, split the transaction, took the actual cash deposit from the cash account, and sent the 50 cent bank error to the newly created Income:Other Income:Bank Error account and it all works perfectly.  Thanks to both of you for the help.  I feel good about this now.

Anita


> On 25 Apr 2017, at 12:27 PM, Maf. King <maf at chilwell.net> wrote:
> 
> +1 for Colin's first paragraph.  I wouldn't do the 2nd, but it is perfectly 
> valid.
> 
> Maf.
> 
> 
> On Tuesday, 25 April 2017 10:15:40 BST Colin Law wrote:
>> On 25 April 2017 at 09:25, Anita Graves <anitagraves at mac.com> wrote:
>>> Maf.
>>> Thank you.  I am creating a new account: Income:Other Income:Bank Error -
>>> with an explanation in the transaction line. And I am moving the 50 cents
>>> out of my cash on hand and into this account.   Is that what you meant?
>> I think you should correct the original deposit transaction so that it
>> shows the amount that appeared in the bank account, with splits
>> showing 50 cents coming from the income account and the rest coming
>> from cash in hand. That reflects what actually happened.
>> 
>> Alternatively you could enter it as 50 cents out of the income account
>> and into your cash in hand (not the other way round). So that it
>> explains where the extra 50 cents in your cash came from.  The nett
>> result is the same but the former is a better representation of what
>> actually happened.
>> 
>> Colin
>> 
>>> Anita
>>> 
>>>> On 25 Apr 2017, at 10:24 AM, Maf. King <maf at chilwell.net> wrote:
>>>> 
>>>> On Tuesday, 25 April 2017 07:48:44 BST Anita Graves wrote:
>>>>> Hello all,
>>>>> 
>>>>> I have a 50 cent error in my cash account.  It happened because the bank
>>>>> gave me credit for an extra 50 cents in a deposit I made.  The bank is
>>>>> not
>>>>> interested in fixing this error because it is old, and at the same time
>>>>> I
>>>>> do not want to carry it forward as cash on hand.  I am preparing to
>>>>> close
>>>>> the books for the fiscal year.
>>>>> 
>>>>> Can I open a new account under the checking account ‘bank error’ and put
>>>>> it
>>>>> there?
>>>>> 
>>>>> What else could I do?
>>>> 
>>>> Hi Anita,
>>>> 
>>>> I would suggest that the account you need to create is Income:BankError,
>>>> since the extra money is presumably already showing in the bank account,
>>>> and you need a transfer account for it?
>>>> 
>>>> I might use Income:OtherINcome as a transfer account (with plenty of
>>>> notes in the transaction), to avoid creating a (probably) single-use
>>>> account in the tree.
>>>> 
>>>> HTH,
>>>> Maf.
>>>> 
>>>> 
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