Bank/Petty Cash/Journal Entry
SigitaGib
Registered Posts: 6
in Bookkeeping
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
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
0
Comments
-
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 register0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 87 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership