Once you have reconciled a bank transfer for either bank account, you cannot 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
How this works
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.
Your current account balance is £500. Your savings account balance is £100.
You transfer £100 from your current account to your savings account. This reduces you current account balance by £100, leaving a balance of £400. Your savings account balance increases to £200.
You realise that you cancelled this transfer and now need to delete it. However you already reconciled your current account and included this transfer in error.
You create a new transfer in the opposite direction.
Transfer from = Savings account
Transfer to = Current account
Amount = 100
You check your bank balances. Your current account balance increases to £500. Your savings account balance reduces to £100.
You reconcile both accounts. The starting balance of your current account is £400. The starting balance of your savings account is £200.
You reconcile the bank transfer for each bank account.
Your starting balances are now correct and ready for you to reconcile again.
Reverse a bank transfer
- From Banking, select New, and Bank Transfer.
- Complete the following information:
- Paid from Bank Account - Choose the bank account you originally transferred the money to
- Paid into Bank Account - Choose the bank account you originally transferred the money from
- Amount Transferred - Enter the amount you want to transfer back to the original account
- Date Transferred - Enter the date you used for the original bank transfer
- Reference (Optional) and Description - optionally update these
- Click Save.
You’ve successfully reversed the original bank transfer and can enter it again with the correct details if required.