Sales and purchases

[bluecat]

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.

[Mike_James]

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.

[bluecat]

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?

[Mike_James · Accepted solution]

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.

[bluecat]

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