If you entered a debit transaction with an incorrect account number, you need to enter a reversing transaction as a credit to the incorrect account number and enter a second transaction as a debit with the correct account number.
Posting transactions actually places them into the A/P Subsidiaries and the General Ledger as official entries. However, once this happens, they cannot be changed. If you want to correct a transaction or completely delete it, you need to do so with reversing transactions.
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If you entered a debit transaction with an incorrect account number, you need to enter a reversing transaction as a credit to the incorrect account number and enter a second transaction as a debit with the correct account number. |
When transactions are posted, their status changes from Unposted (U) to Current (C) and the transactions contribute to their respective accounts' (and subsidiarys) current balance.
When transactions are posted, the following happens:
1. The amount of the transaction is applied to the accounts posted balance.
2. The Post Transactions Report listing each transaction in the group is printed.
3. The Transaction Status is changed from U (Unposted) to C (Current).
4. The group in which the transactions existed no longer appears on the Transaction Groups window.