Def - Checkbook Adjustment

Owned by Tom Williams
Last updated: Nov 20, 2020
1 min read

A Checkbook Adjustment is a transaction to enter adjusting/correcting entries that impact a checkbook balance. Checkbook Adjustments specify the overall adjusting amount as either a positive (DEBIT) or negative (CREDIT) amount. The overall adjustment amount posts to the Checkbooks associated 'Cash' GL Account and is offset to one or more GL Accounts.