If you posted a manual journal incorrectly, what is the recommended action to take?

When a manual journal is posted incorrectly in Xero, the recommended action is to void the journal to remove it on the same date. Voiding ensures that the transaction is effectively reversed, maintaining accurate financial records. This method retains the original journal's details in the system, thus providing a clear audit trail that can be referenced in the future without compromising the integrity of historical records.

The process of voiding allows for the same date to be applied, preserving the financial period's accuracy. This is particularly important for reconciliations and financial reporting. By keeping the original record while marking it as void, users and auditors can understand what changes were made and why.

In contrast, deleting a journal could lead to a loss of crucial information and may complicate audits. Archiving, while it retains records, does not address the issue of the incorrect posting as effectively as voiding does. Copying the journal for correction purposes could potentially cause confusion and does not eliminate the incorrect entry on the financial statements, making it less favorable as a solution. Therefore, voiding is the most effective way to correct an error in manual journal postings.