Find the entry behind a wrong balance
Summary
Trace a wrong ledger balance to the entry that caused it, post the correction, and prove the balances agree again.
About 3 minutes · 6 steps. Also called: wrong balance, ledger entries, trace an entry, fix the books.
Prerequisites
- A CAMS sign-in that can open Accounting.
- The ledger with the wrong balance, from the reconciliation report in the previous lesson.
- Your SACCO's rules on who may post corrections.
Step-by-step
Sign in to CAMS Admin.
In the left menu, expand Accounting and click Ledger Entries.
Set the Date Range around the period you reconciled, and choose the Ledger Account with the wrong balance. You'll see the individual debits and credits behind the figure.
Work through the entries until you find the cause: a wrong posting, or a wrong opening balance.
Post the correction for what you found. For a member transaction posted at the till, see Correct a transaction you posted in error.
Re-run the Reconcile Ledger Balances Report with the same date, as in the previous lesson. The balances should now agree.
Figure 1: The Reconcile Ledger Balances Report open in the report viewer, with the date and branch filters above the balance columns
Common pitfalls & FAQ
- Ledger Entries says No Entries Found. The filters are too tight. Widen the Date Range, or clear the Entry Type.
- Do corrections need approval? Follow your SACCO's rules for who may post corrections before you adjust anything.
- The opening balance itself is wrong. It should match the prior-year closing figure your accountant approved. Agree the corrected figure before you change it.