Supplier Credits in excess, how do I reverse this.

Ruaeng

Hello,

I am new to bookkeeping in general, I have been using reckon accounts hosted for just over a year now and have slightly improved.😬 I have inherited a lot of errors which I am slowly but surely getting through.

I have tried to sift through a lot of the content about credits but have not managed to find the answer (I am guessing I haven't asked the right question). so long story short, I am finding that many of our regular suppliers have these massive credit amounts - due to payments made (cheques deposited) and then deleted - for whatever reason, double entry or a mistake I'm thinking.

Now how do I correct / reverse these?

Also, will this upset my reconciliation records by mucking with these numbers?

Been down that road a few times, I can confirm it only causes late nights.

kind regards

Acctd4

@Ruaeng Is the client on Cash or Accrual for BAS & how far back do the credits go?

Ruaeng

accrual and as far back as 2021

Acctd4

In that case, I would enter a Bill(s) - dated in the current period - & allocate the Bill Credits to these to clear them.

(You can do this via GJs but I personally am not a fan of using GJs unnecessarily as:

• These can't apply to multiple A/P Suppliers
• GJs don't allow enough detail
• They're also more difficult for non-accounting users to understand what they represent)

Only payments affect the Bank Rec 😊

Ruaeng

Fantastic, thank you for the reply will give this a try.