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Hi. I have done a mistake in cash payment, both cr dr is done is cash in hand how should i correct it? give suggestion that how to take entry?

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Question added by ahmad hassan afridi
Date Posted: 2015/11/17
Muhammad Azhar Zahid
by Muhammad Azhar Zahid , ERP Consultant , Supersoft Database Developers

The Entry you made has no impact on cash balance ultimately. So Just cancel it and make a new entry with correct debit and credit impact. 

 

If u don't cancel wring entry, even then the trial will remain the same.

Rahamathullah Akbar
by Rahamathullah Akbar , Cashier cum Accounts Executive , MIOT Hospitals

We done a mistake means we should cancel the entry of reverse the entry

Renuka Pillai
by Renuka Pillai , Senior Accountant , Softkey Education & Infotech LTD

Rectify the entry:-

step 1:what was the wrong entry made

step 2:what entry should have been made

step 3: analyze both step  and come up with correcting entry. 

Muhammed Abid
by Muhammed Abid , Customer Service officer cum Teller , Al Baraka Islamic Bank

we will cancel the entry no and rectify entry

carina talavero
by carina talavero , safe attendant/cashier/receiving , carrefour market

We can refund if allowed, and do it again from the beginning and avoid mistake.

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