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BMX1's avatar
BMX1
Contributing User
3 years ago

Clearing Bills in a Locked Period

Hi,

 

What is the best way to clear/deal with a Bill that shows an outstanding amount in a Locked period.

 

I have discovered that the withdrawal in the Bank Feed was treated as a Spend Money instead of using the Pay Bill function and clearing the Bill.

 

As the Bill is in a locked period, it cannot be deleted, and appears in the Accounts Payable report, which is incorect.

 

Is reversing the Bill and entereing the start of the new year, 1 JULY as the reversal date an option or is their another method.

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  • LRBooks61's avatar
    LRBooks61
    Ultimate Cover User
    3 years ago

    Hi 

    The best way to deal with this is to delete the spend money transaction and redo it correctly as a receive money against the bill.

    In fact if the spend money is on the locked period it will not be able to be deleted.The bill if open will not itself be affected by the locked period

     

    So you can unlock the period , delete the spend money and redo as a pay bill (making sure the same dates are used and then relock the period Reconcile the bank.

     

    OR if you do not wish to unlock the period I suggest that you do the reverse of the spend transaction

     

    So you receive money against the same account code as the spend money as at todays date same tax code etc

    ( this offsets the original incorrect entry), then you pay the bill as normal using the same date .

    You have created a deposit and a withdrawal on the same day correcting the original error and paying off the bill, reconcile manually in bank and all should be good

     

    Hope that helps

    Lisa