How do i reverse the receipt of items please? I have received items (incorrectly) and entered the bi
Comments
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Hi Wendy
There are a few different options depending on whether you are reporting GST on a Cash or Accrual basis?Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(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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HI Shaz,
thanks for responding - i am not sure about the reporting i'm afraid i think cash basis. I didn't think it would be a complex issue - it seems such fairly simple error that i thought would be easy enough to reverse. If the bill hadn't been paid i simply would have deleted it and either waited for goods or re-entered it as a bill without the receive items.
I have the goods now so it's not such an issue but i would like to have known how to do it in case it happens again.
cheers
wendy
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Hi Wendy
If GST is definitely reported (eg BAS) on a Cash basis (or if on an Accrual basis & the disparity between receiving the goods & the bill date is all within the same reporting period) then yes, you could just delete the original bill & enter it only upon receiving the goods.
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(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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