Credit card entered twice in previous BAS period

Question

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.

Acctd4 · Answer

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 😊

Kris_Williams · Answer

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