Reverse a bank transfer or cash deposit

Once you have reconciled a bank transfer for either bank account, you can't edit or delete it.

A cash deposit is when you transfer money from your cash account to another bank account.

If you have entered a bank transfer in error or need to change it:

• Enter another opposite transfer. This cancels the original transfer and updates your bank account balances. You'll have two new bank transfers. One for each bank account
• Don't forget to reconcile both new transfers. This will make sure your starting balances are correct

A bank transfer affects two bank accounts. When you reconcile one of the banks, we mark the transfer as reconciled and you cannot edit or delete it.

A reverse transfer updates your bank balances with the opposite amounts.

Reverse a bank transfer

1. From Banking, select New, and Bank Transfer.
2. Complete the following information:
3. Paid from Bank Account - Choose the bank account you originally transferred the money to.
4. Paid into Bank Account - Choose the bank account you originally transferred the money from.
5. Amount Transferred - Enter the amount you want to transfer back to the original account.
6. Date Transferred - Enter the date you used for the original bank transfer.
7. Reference (Optional) and Description - optionally update these.
8. Click Save.

You’ve successfully reversed the original bank transfer and can enter it again with the correct details if required.

Create a bank transfer

Edit or delete a bank transfer