Incorrect GL account on journal entry
I have coded a journal entry for end of July to an incorrect GL account (commission paid 6-1500) with GST. It should have been to trade debtors 1-1200 (GST N-T). BAS has been lodged for July. Can ...
Forum Discussion
Hi lashby,
I' m sorry to hear the journal was coded to the incorrect account. As the July BAS has already been lodged and the original entry included GST, I wouldn’t recommend simply posting a correcting journal dated 1 August without checking first. It’s best to speak with your accountant, as they can confirm the correct treatment, including whether the adjustment should be reported in the current period or whether the lodged BAS needs to be amended. They can also make sure the entry to Trade Debtors won’t affect the receivables reconciliation.
Regards,
Sai
