Summary
This article explains how to post adjustments for the value of a transaction in either the Sales Ledger or Purchase Ledger.
More Information
You may need to adjust a transaction in circumstances where you cannot edit it. If you have posted it to the wrong account or it is locked down because of month end processes, then you will need to post another transaction to correct it, and an adjustment may be the most appropriate way of dealing with this.
The ability to adjust transactions is limited to users with the "Adjust transactions" user permission set to 'Yes'. You can find out how to set user permissions here.
- Go into " Sales Ledger/Purchase Ledger Customer/Supplier History".
- At "Account:", enter the code for the customer or supplier account.
- Press [Search] to list all transactions.
- Highlight the transaction you want to correct on the list.
- Press <Alt+F2> or [Adjust] to make the adjustment.
- At "Date:", enter the date for the adjustment.
| You may enter the date of the original transaction or enter the 1st of the next month for which you will be producing accounts. A transaction posted back into a closed period will be pulled into the next period for you. If the VAT period has been closed it will be pulled into your next VAT return for you. |
- At "Comment:" enter a descriptive comment for the adjustment, e.g. 'Correction' (max 15 characters).
- In the "Adjustment amounts" box, enter the "Nett" and "V.A.T." amounts by which you want to adjust the transaction.
| Use the minus sign if you are posting a negative adjustment. |
| If the transaction is an opening balance, see this article. |
| Take care to post the adjustment the correct way round. See the examples below for assistance. |
| If a £500 Invoice should have been a £400 Invoice, you would enter '-100.00' as the value by which to adjust. Press <F3> to calculate the "V.A.T." on the correction. |
| If a £500 Invoice should have been a £550 Invoice, you would enter '50.00' as the value by which to adjust. Press <F3> to calculate the "V.A.T." on the correction. |
| If a £10 Invoice should have been a Zero Rated invoice instead of Standard Rate VAT, you would enter '-10.00' as the value by which to adjust. Press <F3> to calculate the "V.A.T." on the correction. Move down to the "Zero Rate" line and enter '10.00' as the 'Nett'. |
- The "Centre:" will display the centre allocated to the transaction.
- If the posting contained multiple centres, move to the [Centre] tab.
- Enter the "Centre" for which you are adjusting values.
- Enter the Nett Amount. You can see the "Unallocated" amount at the bottom of the screen. If this is negative, your 'Amount' should also be negative.
- Once you have finished, "Unallocated" should show '0.00'.
- Press [Close] and [Accept] the changes to save the adjustment.
See also
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