Example 1:
If an expense was charged to an incorrect account and the correct account is within the same fund, complete the following manual journal entry:
Debit the correct expense account
Credit the incorrect expense account
Example 2:
If an expense was charged to an incorrect account and the correct account is in a different fund, complete the following manual journal entry:
Debit the correct expense account
Credit the correct fund’s cash account
Credit the incorrect expense account
Debit the incorrect fund’s cash account
Example 3:
To record a transfer that was made over the phone from one bank account to another and both bank accounts are for the same fund, complete the following manual journal entry:
Debit the asset account to which the money is being transferred
Credit the asset account from which the money is being transferred
Example 4:
If a miscellaneous expense needs to be recorded, such as a bank fee, complete the following manual journal entry:
Debit the appropriate expense account(s)
Credit the appropriate fund’s cash account