Fixing a transaction entered twice but....

Newbee

Hi All,

Hoping you might be able to provide some advice about how to deal with a scenario involving a bill that was inadvertently entered twice, that is, once in this and once in the last financial quarter. In the first instance, an ABA file was created but not forwarded to bank and therefore not paid. The second was processed normally and the bill was paid.

Firstly, apologies if this has been covered elsewhere, I but need to find out how I would account for this in Reckon Accounts Hosted? Also, any advice about how I would correct this from a GST and reporting perspective would be really appreciated. Sorry if the last is a bit beyond scope.

Regards,

Newbie

Acctd4

Hi Newbie

Are you reporting for GST (eg BAS) on a Cash or Accrual ("Non-Cash") basis?

On a Cash basis, only allocated payments are included in BAS/Tax reports so whichever quarter the payment was applied to the Bill will be the one that has reported the GST in your BAS. The unprocessed payment & duplicate Bill can both be deleted with no consequence.

If you're on an Accruals basis, transactions are reported based on charge (eg Invoices & Bills) regardless of whether these have been paid or not. Therefore, you can delete the unprocessed payment from RAH (as this is not what's being reported). Depending on the dates entered on the 2 Bills - If one is dated in the previous quarter, you'll need to create a Bill Credit (in this quarter) to apply to it & re-allocate the processed payment to the original Bill dated last quarter.

Newbee

Thanks Accntd4

Cash

Acctd4

In that case as above:

• Delete the unprocessed Bill Payment
• Delete the duplicate Bill &
• Re-allocate the cleared Bill Payment to the original Bill ☺️

Newbee

Thanks a lot that's very helpful. What's the process for reallocating the cleared bill payment to the original bill if that's to be deleted? Cheers again,

Acctd4

When you you delete the Bill, you'll get a warning that it's been applied, you can ignore that (eg Click Yes) & the associated Bill Payment will remain but not be allocated:

Simply open up the payment & tick in the Pay column which will then allocate the payment amount in the Amt Paid column.

Newbee

Thanks again Shaz!

I just tried deleting the old transaction i.e the one which was not processed at the Bank, and it's saying

'This modification will affect transactions from closed periods and could also affect previous financial reports'

'You must enter the 'closing date' password to make this change'

Just confirming if its ok to proceed in this way?

Cheers,

C

Acctd4

This is just a default warning. Providing you are on a Cash basis, yes :)

Newbee

Thanks Shaz,

Ok deleted the old bill but when I've gone to open up payment it's blank?

Cheers,

N

Acctd4

It sounds like you've not yet deleted the (unprocessed) payment ? Once you delete that, you'll have the open Bill available again to allocate:

Original Bill

I

(Unprocessed) Payment (Delete)

(Duplicate) Bill (Delete)

I

(Processed) Payment (Allocate to "Original Bill")

Newbee

Thanks Shaz,

Ok did that and now both bill and payment are completely gone, there's no entry at all? I'm guessing that's not the right outcome.

Cheers,

Acctd4

Oh dear ... sounds like you've deleted the processed payment in error 😟

Re-enter the Bill (on a Cash basis, this won't affect anything) & you'll now need to re-enter the cleared payment too (& re-do your Bank Reconciliation if applicable!)

Newbee

Sorry Shaz,

I think I see what I have done. Unfortunately, I deleted both the old bill and the old payment. Is it possible to add the old bill back in and reallocate to proceed payment?

Cheers,

Acctd4

Yes, as per above 😀