How to change an amount on a trust cheque if manually changed by the signatory.
Scenario 1: The amount on the cheque is GREATER than what has been printed on the original
Write down the next cheque number.
- Change the cheque number that you are writing in Wise Owl to the same as the original (see Trust Accounting FAQ's)
You will receive a warning at the bottom of the cheque to say that you are using a duplicate cheque number. - Draw a new cheque for the short fall amount
- Change the next cheque number back to what you wrote down in the chart of accounts.
Scenario 2: The amount on the cheque is LOWER than what was printed on the original
- Go into the original cheque and CANCEL it by choosing to reverse it.
You will need to enter a reason for reversing the cheque and the date you are reversing it. - Write down the next cheque number.
- Change the cheque number to the same as the original (see Trust Accounting FAQ's)
- Draw a new cheque for the total amount
- Change the cheque number back to what you wrote down.