Summary
This article explains how to post adjustments for the value of a transaction in either the Sales Ledger or Purchase Ledger.
More Information
You may need to adjust a transaction in circumstances where you cannot edit it. If you have posted it to the wrong account or it is locked down because of month end processes, then you will need to post another transaction to correct it, and an adjustment may be the most appropriate way of dealing with this.
- Go into " Sales Ledger\Purchase Ledger Maintenance Options Adjustments".
- At "Customer/Supplier:", enter the code for the Customer or Supplier account.
- Press <Enter> to list all transactions.
- Find the transaction to correct and make sure the arrow is pointing at it.
- Press [A] to Adjust.
- Enter the date for the adjustment.
| You may enter the date of the original transaction or enter the 1st of the next month for which you will be producing accounts. A transaction posted back into a closed period will be pulled into the next period for you. If the VAT period has been closed it will be pulled into your next VAT return for you. |
- Enter a comment, e.g. 'Correction' (max 15 characters).
- Press <Enter> to move to the "Nett Amount" field.
| If the transaction is an opening balance, see this article. |
- Enter the amount to adjust by, entering a minus sign if this is a negative adjustment.
| Take care to post the adjustment the correct way round. See the examples below for assistance. |
| If a £500 Invoice should have been a £400 Invoice, you would enter '-100.00' as the value by which to adjust. Press <F3> to calculate the "VAT" on the correction. |
| If a £500 Invoice should have been a £550 Invoice, you would enter '50.00' as the value by which to adjust. Press <F3> to calculate the "VAT" on the correction. |
| If a £10 Invoice should have been a Zero Rated invoice instead of Standard Rate VAT, you would enter '-10.00' as the value by which to adjust. Press <F3> to calculate the "VAT" on the correction. Move down to the "Zero Rate" line and enter '10.00' as the 'Nett Amount'. |
- The "Centre" will display the centre allocated to the transaction.
- If the posting contained multiple centres, move down to the 'Centre' field.
- Press <F2>.
- Enter the "Centre" for which you are adjusting values.
- Enter the Nett Amount. You can see the "Unallocated" amount at the bottom of the screen. If this is negative, your 'Amount' should also be negative.
- Click [Close] when "Unallocated" shows '0.00'.
- Press <Esc> and [Accept] to save the adjustment.
See also
Feedback
Thank you for using our Knowledge Base, we value your feedback. Did you find this article useful?
'Yes' or
'No'Keywords AND Misspellings
correct, correction, incorrect, adjust, adjustment, reverse, reversal, amend
