Adjust Posted Entries

The Adjust Posted Entries option in General Ledger is used to correct (change) the account numbers on the entries posted from the following:  in General Ledger, posted cash receipts; in Accounts Payable, updated checks if operating on a cash basis, or posted invoices if operating on an accrual basis; and in Payroll, updated checks (only those with earnings).  With the Adjust Posted Entries option, reversing entries are posted to the original account numbers and then additional entries are posted to the new account numbers, using the same date as the original entries.  The correcting entries made when completing the Adjust Posted Entries option are then reflected in the applicable options and reports within the corresponding modules (unlike when making correcting entries using the Manual Journal Entries option).

When completing the Adjust Posted Entries option for posted cash receipts in General Ledger, the original account number and new account number can be in different funds.  When completing the Adjust Posted Entries option for updated checks in Accounts Payable if operating on a cash basis, the original account number and new account number can be in different funds; when adjusting posted invoices if operating on an accrual basis, the original account number and new account number must be in the same fund.  When completing the Adjust Posted Entries option for updated checks in Payroll, the original account number and new account number can be in different funds as long as the funds being used are in the same checking account (unless the check was expensed or reverse GAAP expensed (if applicable), then the original account number and new account number must be in the same fund).  

Note:  If completing the Adjust Posted Entries option for an updated check in Payroll, only the account numbers for the entries in the Payroll calculations are adjusted (the account numbers on the entries in the Payroll data entry batches will still reflect only the original account numbers on the applicable listings while all the Payroll calculation reports will include the adjusting entries).

Steps to Adjust Posted Entries

Adjust Posted Entries Tutorial

Note:  In order to view the tutorial, you must have an active Internet connection, along with a sound card and speakers installed on your computer.