Editing an account code within a electronic payment

KT100
Experienced Cover User
21 Posts
Experienced Cover User
Australia
Experienced Cover User

21Posts

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Editing an account code within a electronic payment

I posted a transaction to a liability account rather than an expense account.  It was paid electronically and has been reconciled.  the amount is correct, just not the account code.  

 

What is the best way to rectify this?  Can I do a journal from liability - expense acct?

  Or best delete the electronic payment transaction (with lots of lines).. correct the transaction.. but I dont want to pay it again (so a bit unsure)..

 

With thanks

1 REPLY 1
Tracey_H
MYOB Moderator
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MYOB Moderator
MYOB Moderator

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Accepted Solution Solved

Re: Editing an account code within a electronic payment

Hi @KT100 

 

Thanks for your post. Generally speaking, if you are wanting to transfer an amount from one account to another you can record a general journal to achieve that. If you are not sure about the impact on those accounts it is best to check with your accountant.

 

Your other option, deleting the electronic payment and correcting the transaction will also work. There are two parts to an electronic payment, creating the ABA file and recording the transaction in the software. When you delete the payment you are only deleting the transaction in your software. So, in your situation where the ABA file has been uploaded to the bank and paid, you can miss this step.

 

To re-record the transaction without creating another ABA file and re-paying the bill:

  1. go to Prepare Electronic Payments
  2. tick the transactions
  3. click on Bank File
  4. in the Information window The transaction will be recorded before the bank file is created click OK
  5. the Save As window will open, click Cancel

Step 4 records the transaction in your software. Step 5 stops the ABA file from being saved because you don't it to be uploaded to the bank. 

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Tracey
Previously @bungy15

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