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Cheques clearing through wrong bank

Problem Details:

Cheques were issued and posted to one bank (BANK 1) but were printed with the wrong banking information and are now clearing through the wrong bank (BANK 2).   

 

Solutions:

There are several options available to deal with this scenario:

1) reverse all cheques through bank services.  Re-enter the payments and post the cheques and print with the correct banking information (this will only work if the cheques have not yet been mailed out)

2) do a bank transfer, withdrawal from bank 2 and deposit into bank 1 for each of the cheques.  Clear both deposit and withdrawal, that cancel each other out in bank 1.  Clear the transfers out (withdrawals) from bank 2 as each cheques physically clears the bank.

3) data repair to transfer all the cheques posted to bank 1 into bank 2.

 

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