First Previous - Page 1 of 1 - Next Last

Mistake made in Quickbooks desktop

  • Fellow
  • 8 posts
  • # 118668

Hi, I have just realised that in last years accounts, which have already been closed, I have entered an invoice, then received the payment and entered it wrongly as part of a sales receipt.

The invoice is still outstanding because of this, so I need to marry it up to the sales receipt. If it was in the current year this would be easily done, but as the payment has technically come in twice in last years accounts and I need to correct it therefore in this years accounts, I can't think what the journal should be... Can I credit the invoice with a link to the code for the cashreceipt, or do I need to create a journal?

 

Can anyone help? 

  • Fellow
  • Practice Licence
  • 39 posts
  • # 118674

Paula14 said:

Hi, I have just realised that in last years accounts, which have already been closed, I have entered an invoice, then received the payment and entered it wrongly as part of a sales receipt.

The invoice is still outstanding because of this, so I need to marry it up to the sales receipt. If it was in the current year this would be easily done, but as the payment has technically come in twice in last years accounts and I need to correct it therefore in this years accounts, I can't think what the journal should be... Can I credit the invoice with a link to the code for the cashreceipt, or do I need to create a journal?

 

Can anyone help? 


 Hi Paula

 

You are correct that you shouldnt now make any adjustments as the year has been closed

 

To correct the accounts you can enter a journal, CR Debtors noting the relevant customer account & then DR to the same account that you recorded the sales receipt to

 

I hope this helps

Lisa

  • Fellow
  • 8 posts
  • # 118742

Apologies for the delay in replying Lisa, but thank you for your help, that was really useful!

First Previous - Page 1 of 1 - Next Last
bottomBanner
loading