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Share Corrections 

Instructions on how to correct a transaction that should have posted on a previous date, was posted for the incorrect amount or to the incorrect account

 Share Corrections

Insert a Monetary Transaction

When a transaction needs to be posted to an account on a previous date 

  1. Open a Transaction work area.
  2. Search for the member.
  3. In the Transaction Type field, enter SC for Share Correction.
  4. In the Share field, select the share.
  5. Press the Tab key to move forward through each field.
  6. In the Transaction Date field, enter the date the original transaction was posted to the share.
  7. In the Share Correction: (Account Number Share Description) window, locate the incorrect transaction in the Transactions panel.
  8. Right-click the transaction and select Insert Before or Insert After. If there is no transaction to right-click, click the Append Transaction button located at the bottom of the window.
  9. In the Insert Transaction window, change the Select Transaction Type field to Monetary.
  10. Click OK.
  11. In the Posting Date field, enter the date the transaction should have occurred.
  12. Leave the Effective Date field blank.
  13. In the Category field, select Deposit or Withdrawal.
  14. In the Source field, specify how the transaction was made, for example, Check.
    The Source is only used to determine if it is a dividend, so it is not important to specify it exactly except for the case of dividends. If it is not a dividend, you can leave it as the default of Journal Voucher.
  15. In the Amount field, enter the transaction amount.
  16. Click OK.
  17. In the Description field, enter a comment to appear on the member’s statement.
  18. Click Add to Ticker.
  19. In the Share Correction Recap window, click Add to Ticker.
  20. If additional changes are to be made, click Cancel to bring up the share correction window.
  21. Offset the transaction.
  22. Click Post.

Modify a Monetary Transaction 

When a transaction amount was put in incorrectly 

  1. Open a Transaction work area.
  2. Search for the member.
  3. In the Transaction Type field, enter SC for Share Correction.
  4. In the Share field, select the share.
  5. Press the Tab key to move forward through each field.
  6. In the Transaction Date field, enter the date the original transaction was posted to the share.
  7. In the Share Correction: (Account Number Share Description) window, locate the incorrect transaction in the Transactions panel.
  8. Right-click the transaction and select Insert Before or Insert After to display the Modify Monetary window.
  9. If modifying the day the transaction was posted, change the Posting Date field to the correct date.
  10. If modifying the source of funds, select the correct value in the Source field.
  11. The Source is only used to determine if it is a dividend, so it is not important to specify it exactly except for the case of dividends. If it is not a dividend, you can leave it as the default of Journal Voucher.
  12. If modifying the transaction amount, enter the correct amount in the Amount field.
  13. Click OK.
  14. In the Description field, enter a comment to appear on the member’s statement.
  15. Click Add to Ticker.
  16. In the Share Correction Recap window, click Add to Ticker.
  17. If additional changes are to be made, click Cancel to bring up the share correction window.
  18. Offset the transaction.
  19. Click Post.

Delete a Monetary Transaction 

When a transaction is deposited into the wrong account 

  1. Open a Transaction work area.
  2. Search for the member.
  3. In the Transaction Type field, enter SC for Share Correction.
  4. In the Share field, select the share.
  5. Press the Tab key to move forward through each field.
  6. In the Transaction Date field, enter the date the original transaction was posted to the share.
  7. In the Share Correction: (Account Number Share Description) window, locate the incorrect transaction in the Transactions panel.
  8. Right-click the transaction and select Delete Transaction. The transaction will immediately be removed from the Transactions panel.
  9. In the Description field, enter a comment to appear on the member’s statement.
  10. Click Add to Ticker.
  11. In the Share Correction Recap window, click Add to Ticker.
  12. If additional changes are to be made, click Cancel to bring up the share correction window.
  13. Offset the transaction with the account it should have gone into (if it is the same member)
    • If the transaction should have gone into another member’s account, move to step 15.
  14. Click Post
  15. Offset the transaction by crediting the error correction GL for your branch
  16. Click Post
  17. Pull up the member that the deposit should have been credited to
  18. In the Transaction Type field, enter SC for Share Correction.
  19. In the Share field, select the share.
  20. In the Transaction Date field, enter the date the original transaction was posted to the share.
  21. Select Append Transaction at the bottom of the window
  22. Transaction Type: Monetary - OK
  23. Fill in the Posting Date & Effective Date
  24. Category: Deposit
  25. Source: Journal Voucher
  26. Amount: Type in amount of original Deposit – OK
  27. Click Add to Ticker.
  28. In the Share Correction Recap window, click Add to Ticker.
  29. Offset the Transaction by Debiting the Error Correction GL for your branch
  30. Click Post