Credit card entered twice in previous BAS period

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FarlowGroup
FarlowGroup Member Posts: 9 Novice Member Novice Member
in Accounts Hosted

I've just started doing the books for a new company - I've just realised their previous bookkeeper has entered a credit card in twice which has thrown out the balance of the credit card account. They have already done the BAS for this period (we work on a cash basis) so wondering how I should rectify this? Understand if I just delete the double charge it will throw out our BAS numbers from last quarter.

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 4,029 Reckon Hall of Famer Reckon Hall of Famer

    I would do a journal entry in the current quarter to reverse it, using the same tax code as in the original entry

  • Acctd4
    Acctd4 Accredited Partner Posts: 4,021 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited May 27

    Personally, as it’s an error - & is also therefore throwing the credit card out of balance too - I would delete it, re-reconcile correctly & revise the BAS.

    That way, CC now balances & BAS is also now correct 😊

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! *** Bookkeeping & 1-on-1 customised software Training/Troubleshooting ***

    * 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!)

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