Hello All,
I have just noticed that a particular payment has been posted twice. A sum of money was paid to a creditor and the bank payment (PP) has been posted twice. How can i reverse one of the payments? I'm guessing I will need to use the suspense account but I am not quite sure how to do it.
Hopefully someone can help.
Thank you,
Pri
Replies (8)
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If it is on a Creditors account you could use the Supplier refund option to refund the payment.
Why?
Are you concerned that a deletion is going to cause other problems?
In a case like this (where you have entered it twice) doing anything other than a deletion is going to cause problems.
Deleting or refund seem the sensible options, deleting would remove the mistake or with a refund you could add a note to say what you are doing. Anything else just seems unnecessary unless you have another reason to avoid these options that you haven't mentioned.
Another way - longwinded but with a full audit trail
If you want to clear the error and leave an audit trail then :-
Post a dummy invoice with no VAT - T9 to the supplier account and to suspense in the Nominal.
Then post a bank receipt - again no vat - and post that to suspense also.
Use the same reference for each so they can be seen as linked.
Then use Bank payments and match the supplier dummy invoice and the mistaken payment by entering a nil payment and selecting the 2 items,
Then go into bank reconciliation and match the mistaken payment and the correcting bank receipt.
Everything will then be back to where you should have been and there will be a clear trail of what has been done to correct things.
Double posting
If this is a double posting, ie it shows on the bank rec as two entries, then you can go to the maintenance screen.
If you have two bank entries for the supplier account then there will be an unallocated payment on the supplier account also, check this as well.
If so, first find the transaction number on the left hand side that you want to delete.
Then;
File, maintenance, corrections, find the transaction by the trans number.
Highlight the transaction and then right click. There is a delete option.
This will record in the audit trail that you have deleted this transaction and reverse the double payment to the creditor and in your bank.
Point to note is that everything you do in Sage 50 is on the audit trail and separate reports can be run for this.
Hope that helps.