Correct a Data Entry Error

Sage 300 ERP

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Correct a Data Entry Error

Overview

If you need to correct an error that originated in another Sage 300 ERP application and the difference is too large to post to the Clearing Errors account, you can correct the error by processing an adjustment.

Note: You must enter adjustments both in Bank Services and in the originating ledger. You use a clearing account so that these adjustments do not create entries for the General Ledger bank account.

Before you start

If you have not already done so, set up a distribution code for data entry error corrections.

Assign a G/L clearing account to the distribution code.

To correct a data entry error:

  1. Enter an adjustment in Bank Services.

    Use the Bank Entry form to enter an adjustment for the amount of the error. (Use a data entry correction distribution code and a clearing account for the adjustment.)

    You can open the Bank Entry form in either of the following ways:

    • On the Reconciliation tab of the Reconcile Statements form, select the transaction you want to adjust, then click the Bank Entry button.
    • Choose the Bank Entry icon from the Bank Transactions folder in Bank Services.

    For example, if you issued a manual check for $100, but recorded it in Accounts Payable as $10, the adjustment in Bank Services would be:

    DR Clearing Account $90CR Bank Account $90
  2. Enter a corresponding adjustment in the originating subledger.

    For example, if you issued a manual check for $100, but recorded it in Accounts Payable as $10, the adjustment in Accounts Payable would be:

    DR Vendor Account $90CR Clearing Account$90

    If the check was recorded at more than its actual value, the debit and credit accounts are reversed.

  3. On the Reconciliation tab of the Reconcile Statements form, change the check’s status to Cleared.

    The amount in the Withdrawals column appears in the Cleared Amount column. The error amount is offset by the bank entry, which you can reconcile, separately, once you post it.

  4. Click Save.
  5. Click the Summary tab to view the result. (Click Calculate to update the summary if clicking Save does not change it.)
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