Bank/Petty Cash/Journal Entry

SigitaGibSigitaGib Registered Posts: 6
Hi, hope I can get some help here as got totally stuck.
I made an entry Cr Bank 250 Dr Fixed Assets 250
At the same time I entered Cr Petty Cash 250 Dr Fixed Assets 250 for the same item, really 250 I have never had in petty cash as the item was paid by Visa card. How do I fix it? I can't just reverse petty cash and fixed assets as 250 never was in petty cash. Thanks in advance

Comments

  • fedemennifedemenni AATQB Posts: 46
    edited February 9
    I think you have 1 option:
    - reverse the whole transaction entered by mistake (Cr FA Dr Petty Cash) explaining that it is paid by card instead. you need to remove the FA from the register
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