South Africa Track Transfers Due


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Nov 19, 2012
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Hello,

Question:
What is the correct way you would book a payment made out of the wrong bank account and at the same time record the correction that need to be done?

Example 1:
1. Our company ABC rentals received 5000$ rent from tenant Peter in the Trust account.
2. ABC rentals wrongly pays out of their Trust account 600$ for an advert. The 600$ should have been paid out of the current account.

Example 2:
1. Our company ABC rentals received 6000$ rent from lessee Peter in the Current account.
2. 4500$ were wrongly paid out of the Current account to John the lessor. The 4500$ should have been paid out of the Trust account.

Notes:
I have numerous inscriptions similar to these to examples, some dating back to 3 years ago! I need some sort of control account to monitor the faulty payments and corrections. Thanks in advance
 
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