If, during the bank reconciliation, you discover that a deposit amount was incorrectly entered this can be corrected through the Deposit Entry function. Calculate the difference between the amount you originally entered in the Deposit Journal and the amount shown on the bank statement. This is the correction entry amount.
The recommended method of correcting a deposit entry is to reenter the same data as in the original entry, including the same deposit date, but put the words ``AMOUNT CORRECTED PER RECONCILE'' (or a similar notation) in the Description field.
If the original deposit amount was overstated (amount entered in Deposit Journal was greater than amount shown on the bank statement) enter the correction entry amount as a negative number in the amount field. If the original deposit amount was understated (Deposit Journal amount less than bank statement) enter the correction entry amount as a positive number in the amount field.
If you need to correct entries for other reasons you may, of course, use this same method with a different notation in the memo field. Alternatively, you can cancel the original deposit entry as described under Canceling a Deposit and reenter the entire deposit with the correct amount.