How can a Sales Receipt have an open balance?

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I have a sales receipt from 2019 which has an open balance. The sales receipt has the payment format and Deposit To fields filled correctly. The history button shows that the amount has been processed in the 'Deposit' screen. The deposit has been batched and physically received in our bank account. Why would it show an open balance? How can a sales receipt even have an open balance. Most importantly, how can I clear it?

Thanks.

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  • Acctd4
    Acctd4 Accredited Partner Posts: 3,408 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited February 2022
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    Where are you looking that shows an open balance for it? 🤔

    (Unlike Tax Invoices) Sales Receipts don’t usually zero out because their amounts aren’t “owing”.

    (Think of it this way, when you make a purchase at a shop & get a receipt, it’s a record of the sale, so - even with your payment also shown on it - it still always shows the sale total, not a balance of $0)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • CarrieCook
    CarrieCook Member Posts: 2
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    Hi Shaz, Thanks so much for taking the time to answer my query.

    Hope the image is clear enough. Yes, the payment sales receipt was processed on 12/09/19 and then a payment was processed again on 17/9/19, error on our part which left the account in credit. The issue is the open balance of the sales receipt.

    Thanks again.

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,408 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited February 2022
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    Hi Carrie

    Ah, yep ... This is normal & is just a display anomaly - the Sales Receipt doesn't (& can't) actually have an open balance due to being a sale+payment-in-1 (see explanation previously) but will always display the amount in that column in the Customer Centre transactions list.

    What I AM noticing from your screenshot though is that separate "Payment" transaction for the Sales Receipt. THIS is the transaction that's the problem! A Sales Receipt is a "Tax-Invoice+Payment-in-1" eg It records both the sale AND the payment at the same time on the one Sales Receipt so entering an additional "Payment" transaction has doubled up. Check that the "Payment" transaction isn't reconciled (it shouldn't be as it should be the Deposit linked to the Sales Receipt that you cleared when reconciling) & then delete that Payment!

    IMPORTANT: When a "Payment" transaction - & this applies for Bill & Credit Card payments too - shows as a Credit or "Open Balance", it means it hasn't been allocated to its corresponding sale (invoice) /purchase (bill) . Unallocated payments will NOT show up on Cash basis Tax Reports so will inadvertently be omitted from your BAS! Therefore, always check your A/R & A/P reports prior to monthly/quarterly BAS completion to ensure all payments have been applied first.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)