Deleting or Canceling a Transfer Between Treasuries and Bank Accounts
If you recorded a transfer by mistake between two treasuries or two bank accounts (or between a treasury and a bank), you can delete the transfer to cancel it completely, or edit it to correct its details. This guide explains both methods and what happens to the balances and journal entries.
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Note: There is no action called “Cancel” or “Reverse” for a transfer; you cancel a transfer by deleting it.
Contents
Finding transfers
- From the main menu, open Treasuries & Bank Accounts.
- Open the treasury or bank the amount was transferred from or to.
- Open the Transfers tab. All transfers from and to this treasury appear, newest first.
For each transfer you see the Transfer Date and number, From Treasury → To Treasury, and the Amount (with the converted amount and exchange rate if the two currencies are different). You can search by From Date and To Date.
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Note: Transfers appear only inside each treasury’s page; there is no general list of all transfers.
Delete (cancel) a transfer
- In the Transfers tab, click the actions menu (…) next to the transfer.
- Choose Delete.
- In the Are You Sure You Want To Delete This Transfer ? message, confirm the deletion.
- The message Transfer has been deleted appears.
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Warning: Deletion is permanent. The transfer doesn’t go to the recycle bin and can’t be restored, so if you need it later, create it again.
What happens after deletion?
| Item | What happens |
|---|---|
| Balances | The balance of the treasury the amount was transferred from goes back to what it was (it increases), and the balance of the treasury it was transferred to decreases. |
| Journal entry | The transfer’s journal entry is deleted automatically (along with the two currency-difference entries if the transfer was between two currencies). |
| Attachments and Notes | They are deleted with the transfer. |
| Bank reconciliation | If the transfer was matched in a bank reconciliation, the bank transaction is unmatched and becomes unreconciled again, so reconcile it again. |
Edit the transfer instead of deleting it
If the mistake is in the amount, date, treasury or exchange rate, edit the transfer instead of deleting it:
- In the Transfers tab, click (…) then Edit.
- Edit the fields you need: From (Treasury, Currency, Amount), To (Treasury, Exchange Currency, exchange rate), Transfer Date, Notes and attachments.
- Click Transfer. The message Money Transfer has been saved appears, and the journal entry is recreated with the new details.
While editing, you can follow the Available before and Available after amounts for each treasury.
A reverse transfer instead of deletion
If you want to keep a record of the wrong transfer for review, then instead of deleting it, create a new reverse transfer: from the treasury that received the amount to the treasury that sent it, with the same amount, and write in the notes that it cancels transfer number (…). Both balances go back to what they were, and both transfers appear in the history.
To create a transfer: on the treasury page, click Transfer.
Why can’t I delete the transfer’s journal entry?
The transfer’s entry is an automatic entry linked to the transfer, and you can’t delete or edit it from the journal entries. Clicking the entry opens the edit page of the transfer itself. So delete or edit the transfer, and its entry is deleted or updated automatically.
Important notes
- You need access to the treasury (permission to view assigned treasuries or to manage treasuries), and, if you are a staff member, the permission to withdraw from or deposit to the treasury.
- If the transfer date is in a closed period, open the period before editing, and check with your accountant before deleting, because it changes the balances of a closed period.
- Transfers that belong to another branch appear only when you are switched to that branch.
- You can’t delete a treasury that has transfers. Delete the transfers first, or make the treasury inactive.
FAQ
How do I cancel a transfer made between bank accounts?
Open the bank → the Transfers tab → (…) → Delete → yes. Details.
I transferred the wrong amount. Should I delete the transfer?
It’s better to edit the transfer and correct the amount instead of deleting it.
Can I restore a deleted transfer?
No, deletion is permanent. Create the transfer again.
I can’t find the transfer in the Transfers tab?
Make sure you opened one of the two treasuries involved, check the date filter, and make sure you’re on the same branch as the transfer.
I tried to delete the transfer entry from the journal entries and it was refused?
Because it’s an automatic entry. Delete the transfer itself from the Transfers tab.