Summary Adjustment

A correction made by the acquirer when there is an error in a submitted deposit. This adjustment is done to ensure accuracy, and helps account for any errors or omissions discovered during the review of transaction records.

In banking and accounting, summary adjustments can occur when reconciling deposits and withdrawals with actual account balances, ensuring that the financial records accurately reflect the true financial state. These adjustments are often documented with detailed notes explaining the reason for the correction, which aids in maintaining transparency and supporting future audits. Ensuring accurate adjustments not only helps in maintaining the integrity of financial records but also assists in making informed financial decisions.