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past FY purchases

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Contributing User bluecat
7 Posts
Contributing User
New Zealand
Solved: Go to Solution

past FY purchases

Before I started for the 2010 year and 2011 year there was some purchases that were made but when they were paid they were not taken off the order/bill.they were just put straight thru the accounts.So now they are showing as open purchases but have been paid. I want to get rid of them and I can not just do a reverse purchases because they are from previous years.

4 REPLIES
Ultimate Partner Mike_James
3,204 Posts
Ultimate Partner
New Zealand

Re: past FY purchases

If the accounts for the years in which the purchases occurred have been finalised, then reversing them is your only option, re-date the reversal to the current year, and take the credit in this year.

Regards Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)
Contributing User bluecat
7 Posts
Contributing User
New Zealand

Re: past FY purchases

Ok so when I do this it asks me to adjust the inventry.Is this ok or does it muck up our accounts for the GST period Aug-sep?

Ultimate Partner Mike_James
3,204 Posts
Ultimate Partner
New Zealand
Accepted Solution Solved Solution

Re: past FY purchases

I didn't allow for item purchases; in this case I suggest that you create a service credit manually for the same total, but allocate it to an account in your cost of sales section, such as cost of sales, or purchases, or inventory adjustments, and then settle that credit against the original bill/s.

Regards Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)
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Contributing User bluecat
7 Posts
Contributing User
New Zealand

Re: past FY purchases

I have already done one the first way should I go back and cancell or just do the rest the second way?

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