How do I correct a bank transfer?

The method you use to correct a bank transfer depends on whether it has already been matched in a submitted bank reconciliation. This article covers both correction methods within the Bank Transfer module: unposting a transfer that hasn't been reconciled, and reversing one that has.

How to correct a bank transfer that has not been reconciled

If the bank transfer hasn't been matched in a submitted bank reconciliation, you can unpost it and make changes directly. You need the relevant user permissions to access corrections.

1. Open the bank transfer
2. If you see a three-dot menu select it, then select 'Corrections'. If you see a 'Corrections' button directly instead, select that
3. Select 'Unpost'
4. Confirm by selecting 'Unpost' again.

The bank transfer returns to draft status. From here you can edit it – including the period – or abandon it entirely. Once corrected, repost the transfer.

How to correct a bank transfer that has already been reconciled

If the bank transfer has already been matched in a submitted bank reconciliation, you cannot unpost it. Instead, create a new bank transfer with the opposite effect to cancel out the original, then post the correct transfer.

1. Post a new bank transfer for the same amount and period as the original, but with the 'from' and 'to' accounts swapped – this cancels out the original transfer
2. Post a second new bank transfer with the correct details – correct period, accounts and amount
3. Match all three transactions in your next bank reconciliation:
   • The original transfer – the initial money movement
   • The cancelling transfer – offsets the original
   • The corrected transfer – reflects the accurate transaction.

All three documents must be reconciled together to keep the bank reconciliation balanced.