Unauthorised withdrawal & subsequent credit from current account


What is the correct way to Tag an unauthorised withdrawal & subsequent credit back into my current account?


You have 2 options:

Options 1: Create a Holding Bank Account.

Tag the money in/out as a transfer to/from the holding account, once credited back the balance on the holding bank account will be zero.

Option 2: Tag to Directly to a Nominal Code:

Tag the items to the ‘Mispostings Account’ or add a new custom nominal code, with no VAT:

  1. Click the ‘Tag Me!’ to tag the both the withdrawal and credit back…

  2. Then select ‘Something else not on this list’ .

  3. Enter ‘Mispostings Account’ or the custom nominal code as the ‘Post to Account’.

  4. Enter the ‘Description’.

  5. Finally, click ‘Save’ to save the entry.

  6. Repeat the above process for the credit back.

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I used option 1 and created a separate Loan Account called “Unauthorised withdrawals holding account” and Tagged the monies in/out of there.