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Bank Erroneously Cleared Post Dated Check

Discussion in 'Oracle Financials' started by eammica, Jun 6, 2014.

  1. eammica

    eammica Active Member

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    Hello,

    Asking for an advice.
    In our daily bank statement provided by the bank, it showed that the bank erroneously cleared a post dated check, how should we account for the error?
    For a better understanding:
    Check #12345 with maturity/check date of June 4, 2014 was cleared by the bank in May 30, 2014 bank statement.
    The bank credited in June 2, 2014 the amount cleared to reverse the incorrect amount debitted from last month.
    As a result, bank statement closing balance in Cash Management was understated in the period May-2014.

    Thank you.