Payables Rec Out of Balance

Question

Hi,&nbsp;My payables rec is out of balance.&nbsp; I have found the issue.&nbsp;&nbsp;A payment was made on the 22/06/2021 to a supplier in error.&nbsp; This payment was then allocated to other open purchases for this supplier.&nbsp; However they were dated 28/06/2021 &amp; 01/07/2021.&nbsp; What would be the correct way to rectify this issue? Our bank accounts have been reconciled for that period and I am worried that if I change the transactions that will cause an issue for me and our accountant.&nbsp;Thank you

lrbooks61 · Answer

The best way to correct this is to change the dates on the invoices to prior to or the same date as the payment date. 21/6 or 22/6)

Only concern would be the 1/7/21 invoice which changes your balance sheet if the dates change.

If the payment was applied in June against both invoices there isnt a BAS issue but it would be worth flagging with your accountant. Might not be an issue especially if he hasn't completed last years tax

Hope this is helpful

Lisa

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Payables Rec Out of Balance

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