On 10/3/2019 5:52 PM, Jean-David Beyer via gnucash-user wrote:
On 10/3/19 1:29 PM, Matthew Lybanon wrote:
This is more of an accounting question than a GnuCash question; what I would
like to know is how to handle this within GnuCash. I???m sure that this
situation isn???t unique, and there is probably a standard way o
I have had this happen too, sort of. The check got back to our bank for
a different (MUCH smaller) amount than written. Checked in with the
banks at either end. Interestingly, in this case the error was "in
between*" and the banks at both ends (ours and the bank where the check
was deposited << and duly credited to the payee's account for the
correct amount >>) had what matched THEIR records. We were told not to
worry as any later correction would be inter-institution, would not
affect our account.
So I created an offsetting transaction to correct the amount (as if the
bank "donated" the amount)
We have also had bank errors from misreading checks. The organizational
books have an account for bank error. These can take a long time to get
straightened out. ROFLOL once it took many months, because the bank
manager decided there was no POLICY for "small bank errors in a
non-profit's account" and sent it to the bank's board for next quarterly
meeting << set policy correct error that was in organization's error ,
or consider it a donation to the 501(c)3 >>
Michael D Novack
* In other words, not returning directly from bank where deposited to
bank where written but with other institutions in between.
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