Change Account Codes to Transaction in Previous Periods

AEH2

Our BAS has been lodged and the period prior to 1 Jan 2022 has been locked.  We've now flagged some invoices from last year that were coded to the wrong expense code.  Is it going to create any problems if we unlock the period and change the account code?  There will be no changes to the GST value or amount of the invoice. 

Tracey_H

Hi @AEH2 

 

Thanks for your post. If the amounts and GST codes stay the same changing those invoices won't impact your activity statements. However, changing the transactions will unreconcile them so you will need to undo the bank reconciliations and then re-do them.

 

The other option is to journal the amounts from the incorrect expense account to the correct one. I would recommend checking with your accountant before recording that journal to ensure it is correct for your situation.

 

Please let me know if you need further help.

 

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