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monsta76's avatar
monsta76
Experienced User
4 years ago

wrong payment applied to a purchase in previous BAS period

Hi all!

 

Hoping someone can help me.

 

I questioned an amount of $500 that had been transferred out of a clients account and was told it was part payment for a purchase. So I applied the payment of to said purchase back in Apr 2020 and done BAS.

 

I have since found out the $500 was actually transfer to my clients other account and my client has since paid the balance of the purchase ($500).

 

How do I fix this? The original $500 has had GST reported on it, when it should have been owner drawings. Thanks if you can help.

 

:smileyfrustrated:

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    4 years ago

    Hi monsta76 

     

    Thanks for your post. From an AccountRight perspective you could delete/reverse the payment, record the transfer money transaction and record the actual payment. You would also need to undo and re-do all the bank reconciliations.

     

    However, before you do anything I'd recommend checking with the accountant as the original payment was in a previous financial year. You'll also need to speak to the accountant about the BAS adjustment.

     

    Please let me know if you need further help with this.

     

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