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CJT11449911's avatar
CJT11449911
Experienced Cover User
5 years ago
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Aged Receivables Reconciliation

Hi

 

I currently have a clinent (using AccountRight Online) with a significant difference in their aged receivables reconciliation compared to their balance sheet. The difference is from old invoices which were incorrect and need to be removed completely. The usual practice would be to raise a credit note and allocate etc. but these "sales" are not bad debts and no GST amendment needs to be done due to an error years ago. Is there a work around to remove these old invoices at all without impacting the current trial balance?

 

Your help is appreciated.

 

Thanks,
Chris 

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  • Mike_James's avatar
    Mike_James
    5 years ago

    Hi CJT11449911, you could perhaps record a service credit for the total for each customer,  allocated to the debtors control account,  which would not change the trial balance.  Then settle the  credit against the invoice/s. GST code of not reportable.

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  • Mike_James's avatar
    Mike_James
    Ultimate Partner
    5 years ago

    Hi CJT11449911, you could perhaps record a service credit for the total for each customer,  allocated to the debtors control account,  which would not change the trial balance.  Then settle the  credit against the invoice/s. GST code of not reportable.

    • CJT11449911's avatar
      CJT11449911
      Experienced Cover User
      5 years ago

      Hi Mike

       

      Brilliant, that worked and solved my problem. Thanks for your help!