Level 1

How to record transaction when a customers bank duplicated an incoming wire transfer then took the money back.

I received a payment from a customer, their bank mistakenly duplicated the wire transfer so I got 2 wire transfers of the same amount. The bank then reversed one of the wires and the exact amount was taken out of my account. This was all done on the same day but it is posted in my bank as the incoming and outgoing as separate transactions. I tried to post the 2 transaction as journal entries using debit to bank account/credit to accounts receivable and credit to bank account/ debit to accounts receivable. This balances the bank account but left a payment waiting to be received in the receive customer payments tab (although it does not affect the total the customer owes since the journal entries cancel out). Can anyone please let me know how to post this without it showing up as still awaiting a payment. Thank you

Not applicable


Don't use AR for this and it can work: Create one General Journal for the wire amount and use the bank account on it 2x, for both the debit and credit.

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