NCR Voyix Corporation (VYX), a maker of software for the retail, restaurant, and digital banking spaces, acknowledged multiple accounting errors following the spin-off of its ATM-focused business last year.

In the second quarter of 2024, the Company recorded an out-of-period correction, decreasing revenue by $10 million, or approximately 1.1% of sales in the latest quarter.

The company also decreased accounts receivable by $5 million, and increased contract liabilities by $5 million.

NCR Voyix also recorded corrections to its December 31, 2023 balance sheet:

—Total assets were understated by approximately $12 million
—Total liabilities were overstated by approximately $7 million
—Total equity was understated by approximately $19 million

NCR says none of the adjustments are material and that it has implemented a monthly control to:

“...timely reconcile and review the reasonableness and supportability of accounts receivable and accounts payable clearing account balances, including a review of the nature and aging of the individual clearing account balances.”