How to Cancel Pro Fund Accounting

To cancel or manage issues related to Pro Fund Accounting, here are the steps and guidelines you can follow:

Cancelling or Voiding Transactions

If you need to cancel a transaction, such as a refund check that was not cashed, you should follow these steps:

• Void the Check: Void the check in the system to remove it as an expense. This action will ensure that the check is no longer reflected as an outstanding expense in your accounts.

• Manual Processing: After voiding the check, you will need to manually process the refund. This involves entering the refund into your accounting system to ensure that the financial records are accurate. You can do this by depositing the returned amount back into the account that was used to create the check, thus zeroing out the expense.

Journal Entries

If the above method does not resolve the issue, you may need to use a journal entry to correct the financial records.

• Consult Your Accountant: Before making any journal entries, it is advisable to consult with your accountant to ensure that the adjustments will not affect your financial reports or accounts.

• Record the Journal Entry: Create a journal entry to move the funds from the incorrect account to the correct one. For example, if the refund was initially recorded in a reimbursement account, you can use a journal entry to transfer the amount back to the original account from which the check was written. This will ensure that the expense is correctly cancelled out in your financial reports.

General Support

For any other issues or questions related to Pro Fund Accounting, you can utilize the following resources:

• Phone Support: Contact Pro Fund Accounting’s support team via their toll-free number, available from 9:00 am to 5:00 pm EST.

• Training Videos: If you are working outside of the support hours, you can refer to the free training videos provided by Pro Fund Accounting, which may address your specific issue.

By following these steps, you can effectively manage and cancel transactions within Pro Fund Accounting, ensuring your financial records remain accurate and up-to-date.