Summary
This article explains how to adjust an opening balance.
More Information
When setting up your Platinum system, you may wish to enter an Opening Balance for each of your customers and suppliers. If you make a mistake, you can correct it by posting an adjustment.
| The ability to edit transactions is limited to users with the "Adjust transactions" user permission set to 'Yes'. You can find out how to set user permissions here. |
Go to " Sales Ledger/Purchase Ledger Customer/Supplier History".
- At "Account:" enter the code of the customer or supplier account.
- Highlight the opening balance transaction you want to correct on the list.
- Press <Alt+F2> or [Adjust] to make the adjustment.
- At "Date:", enter the date for the adjustment.
| If this is a late adjustment and you have already closed the month to which it relates, post it with a date of the 1st of the next month you are going to close. |
- At "Comment:" enter a descriptive comment for the adjustment, e.g. 'Correction' (max 15 characters).
- At "Totals:" enter the amount by which to adjust.
| Use the minus sign if you are posting a negative adjustment. |
| If the transaction is an opening balance, see this article. |
| Take care to post the adjustment the correct way round. See the examples below for assistance. |
| If a £500 Invoice Opening Balance should have been a £400 Invoice Opening Balance, you would enter -100.00 as the value by which to adjust. |
| If a £500 Invoice Opening Balance should have been a £400 Credit Opening Balance, you would enter -900.00 as the value by which to adjust. |
| If a £100 Credit Opening Balance should have been a £300 Invoice Opening Balance, you would enter 400.00 as the value by which to adjust. |
- The "Centre:" should be 'Z995 - Profit to Date'.
- Press [Close] and [Accept] the changes to save the adjustment.
See also
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