Auditor Journal Entry is appearing in Pay Bills

Jill Hayman
Jill Hayman Member Posts: 4
edited July 2020 in Accounts Hosted
Auditor Journal Entry is appearing in Pay Bills.  I have been asked our auditors to make a journal entry for 30.06.17  to record a missed entry which will reclassify credit receivables into payables.

The journal is DR receivables and CR payables.

When i created this i got an error in Reckon which said 'you cannot use more than one A/R or A/P account in the same transaction and i was unable to post this.

Please can someone advise how to do this?

Comments

  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited July 2020
    Hi Jill.  You can do this processing two separate Journals - one using Receivables and the other using Payables.  Use a specific suspense account that you might have to process the second part of each entry in each journal. The transactions to the suspense account will then cancel themselves out.
    John L G
  • Jill Hayman
    Jill Hayman Member Posts: 4
    edited April 2019
    Hi  Thank you for your reply - i understand the logic but new to Reckonb so unsure whethr i have done this correctly using a suspense account or not.

    I cant find suspense account help anywhere - are these accounts already set up or do i have to do this?

    I have tried using an ordinary account but its not happy with the AP transaction as it wanted a supplier and now has updated the 'pay bills' as well which is clearly not correct!!!

  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited July 2020
    HI Jill.  A suspense account is a clearing account in which transactions are generally placed on a temporary basis, pending clearance for example, your Group Tax account or GST account are clearing accounts.  In light of the problems you are encountering because of the need to use the name of a supplier, my suggestion is that you go back to the auditors and ask them for specific instructions on how you are to process the transactions they want entered.  On the face of it, when the entry to be reversed was originally entered, it would have needed to have a supplier name included.  Sorry, but this requires a bit of delving which the auditors have already done, so they are the best ones to provide advice.
    John L G
  • Jill Hayman
    Jill Hayman Member Posts: 4
    edited April 2019
    Thank you - i appreciate your help