Bugbear with VTT+ accounts

I am a big fan of VT, but I do have a bugbear (no pun intended) and it relates to VTT+ and the display of balance sheet accounts that might typically be credit balances but happen to be debit balances or vice versa. A good example is that of a director's account which usually sits as a creditor but might on occasion be overdrawn.

It seems there is no easy way for VTT+ to display an overdrawn director's account as a debtor, but instead it shows inaccurately as a negative creditor. This seems to necessitate a very cumbersome correction if I am automatically importing the TB into VTaccounts.

Am I missing something obvious or how do others work around this? Is VT planning an update to deal with this? 



Anonymous | | Permalink

Can you not make a reversing journal posting between creditor and debtor at the year end?

Quickbooks does the same thing

chatman | | Permalink

If that is any consolation.


andypartridge | | Permalink

Yes, you are right. That's a good idea. The drawback is the need to create 2 accounts for what is the same thing. It is not just director's account that gives rise to this sort of thing. I've had it with VAT (net repayment due) and PAYE (particularly with outstanding online incentive repayments), too.

Ideally what is required is a mechanism for an account to float between debtors and creditors in the same way that a bank account does ie. if it's overdrawn it authomatically gets shown in creditors. Perhaps I'm being too demanding!

-- Kind regards Andy

Transfer Account

amarshah69 | | Permalink

What I do at the year end is move the whole account  (by right clicking on the account) to the debtors/creditors ledger as required then move it back when required.

hope that makes sense


andypartridge | | Permalink

Now that looks like a great idea. Just tried it. As you say, right-click and 'move' to another ledger of choice.

I wasn't aware that was possible.

Thank you

-- Kind regards Andy

Mark Three's picture


Mark Three | | Permalink

when you do the next year end - the comparatives may be out...


Better to do the reversing journal.

I am having the same problem, but my DLA is already in the debto

chatman | | Permalink

and VT Final accounts is still putting it into creditors..

I am having the same problem, but my DLA is already in the debto

martynover | | Permalink

Think you need to use the Trial Balance Analyser

thacca's picture

Trial Balance Analyser

thacca | | Permalink

Yes you need to use the trial balance analyser. It is found in the VT Final Accounts Menu (VT Final Accounts > Tools > Trial Balance Analyser). There is also a short cut button on the VT Toolbar.

I agree with others

craigbell | | Permalink

A reversing journal around the year end is the simplest way of dealing with this, the additional account generated in the debtors section of the trial balance is a non issue for me.

chatman: What you are experiencing suggests that you have moved the director's a/c from the creditors ledger to the debtors ledger in VT Transaction/Transaction+, however this will not change where the balance is included in the excel spreadsheet.  As another poster has correctly pointed out, you would need to use the trial balance analyser to fix this should you continue to keep the original director's a/c in the debtors ledger in VT Transaction/Transaction+.

In the year that has passed . . .

andypartridge | | Permalink

As the OP, I adopted the suggestion of the reversing journal last year. It works a treat and is now just a very simple part of my routine review of the TB.
Kind regards


chatman | | Permalink

I saw the original advice but did not know you had to use the Trial Balance Analyser (in fact I didn't even know it existed).

Having said that, I think I will set up another DLA account so that I have one in debtors and one in creditors and use the reversing journal method also suggested.

Thanks to all of you for your help. 

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