Forum Discussion

BRS22's avatar
BRS22
Member
8 months ago

Unable to remove recoded stock out of the bank register

A client entered a purchase order, however, somehow coded all the stock to the bank account. As this has multiple items on it and the payment has already been applied, I simply clicked on the indivi...
Mike_James's avatar
Mike_James
Ultimate Cover User
8 months ago

Hi BRS22​ , changing the asset code on the items does not change the coding of the transaction, as you have noted. Another solution is to record a general journal to debit the inventory asset account and credit the bank account, with the amount of the purchase incorrectly coded to the bank account ($16814). GST code of N-T on both lines. Then on your reconciliation there should be one deposit and payment which cancel out and can be marked as reconciled. 

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