Reclassification
A reclass or reclassification, in accounting, is a journal entry transferring an amount from one general ledger account to another. This can be done to correct a mistake; to record that long-term assets or liabilities have become current; or to record that an asset is now being used for a different purpose (e.g. land's becoming investment property intended for resale, rather than as property, plant, and equipment used in production).
Example
A $500 purchase of office supplies was charged to building maintenance by accident. The correcting entry would be:
Office supplies Dr. $500 to Building maintenance ... $500
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