Reconciling customer accounts

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Experienced Cover User KHaggar
24 Posts
Experienced Cover User
Australia
Experienced Cover User

24Posts

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Reconciling customer accounts

On 8/01/2019 customer paid  rent in advance. I debited the bank account (asset) and credited the customer deposit account (liability).

On 22/01/2019 I raised the rental invoice which debited the debtors account (asset) and credited the rental income account.

On 22/01/2019 I transferred the rent in advance from customer deposits whtich debited the liability and credited the asset.

 

All the accounts look fine except the customer ledger which shows:

08/01/2019     Customer deposit account      2511.67 CR 

22/01/2019     Debtors                                    2511.67 DR

22/01/2019     Customer deposit account      2511.67 DR

22/01/2019     Debtors                                    2511.67 DR

 

So my customer ledger is now 5023.34 DR out of balance. Why?  And how do I fix it? The relevant transactions are greyed out so I can't edit them.

 

I would be grateful for any assistance and insight provided.

3 REPLIES 3
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MYOB Moderator Tracey_H
1,080 Posts
MYOB Moderator
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Re: Reconciling customer accounts

Hi @KHaggar 

 

Thanks for your post.  In AccountRight the easiest way to deal with customer prepayments is to create a $0.00 invoice and then apply their payment to that invoice. This creates a credit note. Once you have created the sale invoice you can then apply the credit to that invoice.  This help article, Customer prepayments, will guide you through the process.

 

Please let me know if you need further help.

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Experienced Cover User KHaggar
24 Posts
Experienced Cover User
Australia
Experienced Cover User

24Posts

4Kudos

0Solutions

Re: Reconciling customer accounts

Thanks. This is helpful for the future.

I am, however, still not sure how to undo my recording of this so I can then redo it correctly.

 

Kerry

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MYOB Moderator Tracey_H
1,080 Posts
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139Solutions

Re: Reconciling customer accounts

Hi @KHaggar 

 

You can delete all the related transactions you recorded by opening the transaction(s), clicking on edit and selecting Delete. Before doing this go to Setup>>Preferences>>Security tab and make sure Transactions can't be changed; they must be reversed is not ticked.

 

Please let me know if you need further help.

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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