Check payment posted to wrong vendor error occurred in a prior year.

Let's get the transactions corrected, Lisaissues.

 

Based on the details you've provided above, the transaction in QuickBooks Desktop was posted to the wrong account. Also, this account was not reconciled. With that, we can go back to the affected check and change the account.

1. You can go to the account register and look for the check.
2. Change the affected account.
3. Click Save and select Yes to confirm the changes.

Once you have corrected the transaction, you can start preparing your bank statement and reconcile the account. 

 

If you encounter issues when reconciling the account, you can follow the steps in this link to correct it: Fix issues when you're reconciling in QuickBooks Desktop.

 

You might want to consult an accountant if there are a few thing you want to clarify. They can share you their expertise and how to get through with the issue.

 

I'll be right here if you have another concern. Have a great day!

Thank you for the quick reply but I think the problem is a bit more complicated. The payment was booked to credit card A and recorded in quick books to pay this cards debt. The actual payment however was sent to credit card b (which belonged to an owner). The company agreed to pay the owners credit card debt in the form of a loan. This was done last year but the error was discovered this year. so now credit card A balance has been erroneously reduced while the loan is not recorded at all. Because this was from last year and the year has been closed I can’t figure out how to correct this error. Thanks for any input.