Mis-posting of voucher items

[brockx6]

What is the proper way to handle a mis-posted voucher? Last month we posted a voucher to the wrong expense account. My software allows me to go back into that voucher and just change it. This changes the prior month P&L that I published. Is a journal entry really necessary? Should I be concerned with the audit trail?
Thanks

 

[Fidget]

If it's been posted to the wrong account, then it needs corrected. Just move it to the correct account in the current period. Depending on the value of it, and what effect it had on the accounts you published, you might need a note in the current period accounts explaining the movement, otherwise, just do the correction.

 

[Counterofbeans]

Welcome to accounting!

Yes, I would strongly recommend fixing the account so that it makes sense from a YTD perspective. And yes, this makes it challenging not only to analyze current month results, but also when you compare these "curent" months to future months.

Basically, posting to the wrong account stinks...