How to fix things when you have imported your bank file to the wrong bank account

What do I do when the bank file has been imported to the wrong bank account?

Overview

Correct an incorrect Bank Import

Overview

Oh dear! Someone has picked the wrong bank account when importing the bank file. Can I fix this?

Yes!

Take a breath and don't panic! Then follow the steps below.

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Steps to correct an incorrect bank import

The steps to take depend on whether or not the cash book entries have been posted yet.

A. Has the Cash Book entry been posted yet?

If not, then this is really not too hard to fix. You can delete the transactions from the wrong bank account and reimport them to the correct bank account.

1. Go to the cash book transaction search screen for the bank account that the transactions were imported to. You can search for the entries by the transaction date range.
2. Manually delete each entry that belongs to this batch on the import file.
3. Re-import the file again using the correct bank account.
4. Check that you have caught all the relevant transactions.

B. If the entries have already been posted before you find the error:

You should enter reversal entries for each affected entry, allocate these entries against the original entries, and then reimport the file using the correct bank account, 

• Go to the Cash Book where the initial transactions were imported to the wrong bank account.
• Locate the transactions.
• For each item, enter a reversal transaction that is the equal and opposite of the initial amount, using the same wrong bank Account.
• Go to the wrong bank Account and unwind all allocations for the incorrect postings.
• Then reimport the bank file, carefully selecting the correct bank account.