The company for which I work has multiple employees posting cash receipts to customer accounts. This morning, I noticed there was a duplicate cash receipt (check) listed on one customer account. It just so happened to be from the prior period (closed).
My question is: How do I void or delete that duplicate cash receipt (check)? I don't think I can simply delete it from the account. But do I journal it off? If so, what would that journal entry look like?
The answer provided would work for an item in the same accounting period and if it were not a duplicate entry. However, the issue I am dealing with IS a duplicate payment receipt in a previous period (closed) and the funds from the duplicate entry are still showing as available for use on the account. Here's what happened: The Check was received last month and entered twice on the same day. On one entry, the funds were applied to an open invoice. The funds from the duplicate entry were not applied and remain open on the account as unapplied funds. Each entry was dated for the same date and listed with the same Check # and amount. The month in which the entries were made was closed and now, because each entry lists the same reference number, date, amount, etc., I need to know how to remove the duplicate entry so that the account no longer shows that these funds are available to be applied to open invoices.