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Supplier Centre - Amount but no open balance

katie_7365336

I entered a Bill in Reckon (Accounts Premier Edition 2014) and with the foreign exchange paid it using the pay bills window, but somehow, it has allocated a payment couple of cents more than what the bill equates to when the same exchange rate is entered. Now when I look in the supplier centre, the supplier has an unallocated amount (in the 'amount' column) but no open balance in the 'open balance' column!!! the effect of this can be seen in the balance sheet, where the total accounts payable doesn't match the A/P ageing summary report...

Comments

Deny Dharmawan

Hi Katie,

Do you have negative amount in the bill? If you do, please try to recreate the bill without the negative amount, you can create credit for the negatives.

If you do not have negative in the bill, please provide more details so I can replicate it.

Is the Supplier a foreign supplier?
What's the currency, and the exchange rate used when creating bill and paying?
Was the payment a full payment or partial payment?

It might be easier to trouble shoot the issue over the phone if the scenario is complex.

Regards

Deny Dharmawan

katie_7365336

Hi Deny

Bill is US$1650 and when converted to AU should be $1943.23, I made a mistake and paid this with bill payment rather than cheque, bill payment only allows foreign currency to five decimal places, which is probably why it is giving 1c difference which at the moment payment is converted to $1943.24... I can readjust the bill and payment but I had reconciled these transactions a couple of months back.

katie_7365336

additional info: I have done more reconciliations since than.

This 1c difference only shows if in the supplier centre, the particular supplier is set to show only balance details. If it is set to show all transactions in the supplier than the bill payment amount and the bill amount both show correct, there is no 1c difference than...

katie_7365336

Can I get help on this issue plz, how can I get rid of this cent difference. .....??

this difference is affecting my balance sheet and ap ageing...

katie_7365336

helloo, reckon I can get any help here .....

Deny Dharmawan

Hi Katie,

Please try below step to get rid of the 1c.

Go to the bill of the US$1650.
Enter the Exchange Rate to be 1.1777212121212. (even though it will only show 5 digits, it uses more digits for calculation)
Save the Bill

I got the rate by dividing 1943.24 by 1650.

Regards

Deny Dharmawan

Roslin

Hi Deny, I also have the same problem. I have tried keying more digits in, but the outstanding balance is still there even though the open balance is zero (and the outstanding balance also shown on balance sheet)

Deny Dharmawan

HI Roslin,

What is the Bill amount after you made the changes? Do you have multiple bills with the same issue for the same supplier?

For me, previously it was 1943.23, and the payment was -1943.24, and balance -0.01.

After the change, the -0.01 no longer appears in my Balance Sheet.

Regards

Deny Dharmawan

Roslin

Hi Deny, There are multiple bills with the same issue, but they are not from the same supplier. I have one bill in PHP (Peso). When I clicked the journal entry, it shows: Dr A/payable of AUD 6497.46 Dr. Exchange gain/loss of AUD0.57 Cr. Bank of AUD6498.03 But, instead of updating the payable balance with AUD6497.46, Reckon has posted in AUD6498.03 in, hence the balance of 0.57 shown in Supplier Centre and Balance Sheet

Roslin

Deny Dharmawan

Hi Roslin,

What is the Peso amount in the Bill for above transaction?

Regards

Deny Dharmawan

Roslin

PHP247900

Deny Dharmawan

Hi Roslin,

And what is the exchange rate that was used then?

Regards

Deny Dharmawan

Roslin

Exchange Rate entered: 0.02621230334 (shown on screen: 0.02621)

Deny Dharmawan

Hi Roslin,

When I use 0.0262100040338846 (6497.46/247900) as the exchange rate on the bill, it balances out for me.

Basically if you want to get rid of the cents difference, you can edit the exchange rate so that the AUS$ amount matches the payment.

Regards

Deny Dharmawan

katie_7365336

Hi Deny,

It is not the bill with the issue, the bill is fine and gives the correct amount when converted. it is the Bill Payment - Cheque that is the problem. Bill Payment - Cheque is giving me the one cent difference. And the other problem is that I had a couple of months back, reconciled the bill payment - cheque, so changing it now will make my reconciliation amount out by that one cent. is there another way to get around this? possibly doing a GL entry? I need to adjust this so that my balance sheet displays the correct Total amount payable at end of each month.

BTW: even when entering that conversion rate into the bill payment - cheque (conversion rate that you mention above), once you enter it and go to save it, reckon just rounds it up so it still becomes 1.17772...

Roslin

Hi Deny, The bill is not the issue. It's the bill payment that caused the problem. It seems like Reckon apply the value that suppose to go to Realised Exchange Gain/Loss to Payable balance instead?

katie_7365336

any suggestion would be better than none...

Deny Dharmawan

Hi Katie and Roslin,

With my workaround, I have tested it on my file. Before I applied the workaround, I reconciled my bank account for the bill payment. After I applied the workaround, my bank still reconcile correctly. The workaround does not change the amount of payment, my reconciliation is not out by 1 cent.

Before you try, you can create a backup of your data file first. If something goes wrong, you can restore your backup.

Regards

Deny Dharmawan