Forum

topBanner
First Previous - Page 1 of 1 - Next Last

SAGE error entry: bank payment made in error should have been supplier payment

  • 3 posts
  • # 95445

I hope someone can help me.  A supplier account says it is £59.31 still outstanding.  I found that I had made a bank payment rather than supplier payment.  This was the previous year so I don't want to fiddle with those entries.  How can I get the supplier account to zero without mucking up the bank?
Clare
  • Member PM.Dip
  • Practice Licence
  • 195 posts
  • # 95477

Hi Bobbie

Has the bank payment been made correctly? If so then all you should need to do would be to get rid of the supplier invoice. Last years figures are what they are and can't be messed with now so in this instance I would create an equal supplier credit note to clear it from your ledger. 

Obviously last years creditors will be wrong by this amount but that can't be helped if the error crosses year end.

Clare

  • Bruton Young Bookkeeping


  • Quote
  • 794 posts
  • # 95483

Hi Bobbie,

I personally would correct as follows:

Post a direct bank receipt for £59.31 at the date of the original entry along with a note of the reason in the description box.

Then post the payment through the supplier account - at the same date of the original entry.

Both of these entries will show on your current bank and reconcile them together so that if there are any queries both entries are together and can be explained.

This will not affect last year's balances and at least the supplier account will show the correct information ref the payment.

Marilyn

  • A clever person solves a problem.

    A wise person avoids it.

    Albert Enstein


  • Quote
  • 3 posts
  • # 95493

Thanks to both of your solutions.  It was the lack of confidence that I had incase I mucked up the data.  I can see both giving me the result I want in the supplier account.  The credit note was what I had already been told but it didn't help me understand the bank side, only rectified the supplier account.  So I'll go with the other suggestion.  Grateful to you both for your time.
  • 160 posts
  • # 96857

Hi Bobbie,

I would check to see if the payment had been put on correctly because it sounds to me like the payment hasn't been entered onto the supplier ledger. I would correct the original. You could go into correction through Maintenance and correct it there. If it cannot be done you will need to reverse the entries and re enter the payment allocating it to the supplier invoice through the supplkier ledger,

Hope this helps

Kind Regards

Paula Welsh

  • Hello all,

    i just noticed we have a forum, just poking around the members area.  My name is Paula welsh and I have been a member since 2005, starting with Associate member and now a full member


  • Quote
  • 160 posts
  • # 96859

paulawelsh said:

“

Hi Bobbie,

I would check to see if the payment had been put on correctly because it sounds to me like the payment hasn't been entered onto the supplier ledger. I would correct the original. You could go into correction through Maintenance and correct it there. If it cannot be done you will need to reverse the entries and re enter the payment allocating it to the supplier invoice through the supplkier ledger,

Hope this helps

Kind Regards

Paula Welsh

”

  • Hello all,

    i just noticed we have a forum, just poking around the members area.  My name is Paula welsh and I have been a member since 2005, starting with Associate member and now a full member


  • Quote
  • 794 posts
  • # 96863

Hi Paula,

As the error was done in the previous financial year then the correcttion should not be done via the maintenance module.

This was the reason I explained how to do it in my previous post on Monday 9th Dec.

Marilyn


  • A clever person solves a problem.

    A wise person avoids it.

    Albert Enstein


  • Quote
  • 160 posts
  • # 96872

paulawelsh said:

“

Hi Bobbie,

I would check to see if the payment had been put on correctly because it sounds to me like the payment hasn't been entered onto the supplier ledger. I would correct the original. You could go into correction through Maintenance and correct it there. If it cannot be done you will need to reverse the entries and re enter the payment allocating it to the supplier invoice through the supplkier ledger,

Hope this helps

Kind Regards

Paula Welsh

”

  • Hello all,

    i just noticed we have a forum, just poking around the members area.  My name is Paula welsh and I have been a member since 2005, starting with Associate member and now a full member


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