Credit card entered twice in previous BAS period

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: 4,277 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: 4,208 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 😊

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