Difference between revisions of "How do I adjust an account opening balance?"
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Katy Kitchen (talk | contribs) (Created page with "{{Review}} == Summary == When setting up your Platinum system you may wish to enter an Opening Balance for each of your Customers and Suppliers. If you make a mistake you ca...") |
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== Summary == | == Summary == | ||
| − | When setting up your Platinum system you may wish to enter an Opening Balance for each of your Customers and Suppliers. If you make a mistake you can correct it by posting an adjustment. | + | When setting up your Platinum system, you may wish to enter an Opening Balance for each of your Customers and Suppliers. If you make a mistake, you can correct it by posting an adjustment. |
== More Information == | == More Information == | ||
* Go into {{Menu|Systems\Accounts|{{SL}}\{{PL}}|Maintenance Options|Adjustments}}. | * Go into {{Menu|Systems\Accounts|{{SL}}\{{PL}}|Maintenance Options|Adjustments}}. | ||
| − | * At {{DataPrompt|Customer/Supplier:}}, enter the [[Do I have to remember all these Account Codes?|code]] for the Customer or Supplier the Opening Balance relates | + | * At {{DataPrompt|Customer/Supplier:}}, enter the [[Do I have to remember all these Account Codes?|code]] for the Customer or Supplier to which the Opening Balance relates. |
| − | * Press {{ | + | * Press {{KeyPress|CR}} to list all transactions. |
* Find the Opening Balance transaction and make sure the arrow is pointing at it. | * Find the Opening Balance transaction and make sure the arrow is pointing at it. | ||
* Press {{Button|A}} to Adjust. | * Press {{Button|A}} to Adjust. | ||
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{{Note|text=If this is a late adjustment and you have already closed the month to which it relates, post it with a date of the 1st of the next month you are going to close.}} | {{Note|text=If this is a late adjustment and you have already closed the month to which it relates, post it with a date of the 1st of the next month you are going to close.}} | ||
| − | * Enter a comment e.g. CORRECTION (max 15 characters). | + | * Enter a comment, e.g. {{DataValue|CORRECTION}} (max 15 characters). |
* Press {{KeyPress|CR}} to move to the {{DataPrompt|Total Amount}} field. | * Press {{KeyPress|CR}} to move to the {{DataPrompt|Total Amount}} field. | ||
* Enter the amount to adjust by, entering the minus sign if this is a negative adjustment. | * Enter the amount to adjust by, entering the minus sign if this is a negative adjustment. | ||
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{{Warning|text=Take care to post the adjustment the correct way round. See the examples below for assistance.}} | {{Warning|text=Take care to post the adjustment the correct way round. See the examples below for assistance.}} | ||
| − | {{Example|text=If a £500 Invoice Opening Balance should have been a £400 Invoice Opening Balance you would enter -100.00 as the value to adjust by.}} | + | {{Example|text=If a £500 Invoice Opening Balance should have been a £400 Invoice Opening Balance, you would enter -100.00 as the value to adjust by.}} |
| − | {{Example|text=If a £500 Invoice Opening Balance should have been a £400 Credit Opening Balance you would enter -900.00 as the value to adjust by.}} | + | {{Example|text=If a £500 Invoice Opening Balance should have been a £400 Credit Opening Balance, you would enter -900.00 as the value to adjust by.}} |
| − | {{Example|text=If a £100 Credit Opening Balance should have been a £300 Invoice Opening Balance you would enter 400.00 as the value to adjust by.}} | + | {{Example|text=If a £100 Credit Opening Balance should have been a £300 Invoice Opening Balance, you would enter 400.00 as the value to adjust by.}} |
* The {{DataPrompt|Centre}} should be {{DataValue|Z995 - Profit to Date}}. | * The {{DataPrompt|Centre}} should be {{DataValue|Z995 - Profit to Date}}. | ||
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* [[Recommended Accounting Routines]] | * [[Recommended Accounting Routines]] | ||
* [[Posting Purchase Invoices]] | * [[Posting Purchase Invoices]] | ||
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{{KB_Tags|Opening balance, Correct, Correction, Incorrect, Adjust, Adjustment, Reverse, Reversal, Opening Balances}} | {{KB_Tags|Opening balance, Correct, Correction, Incorrect, Adjust, Adjustment, Reverse, Reversal, Opening Balances}} | ||
{{KB_SL}}{{KB_PL}}{{ZN_Accounts}} | {{KB_SL}}{{KB_PL}}{{ZN_Accounts}} | ||
Revision as of 09:22, 9 August 2016
Summary
When setting up your Platinum system, you may wish to enter an Opening Balance for each of your Customers and Suppliers. If you make a mistake, you can correct it by posting an adjustment.
More Information
- Go into " Systems\Accounts Sales Ledger\Purchase Ledger Maintenance Options Adjustments".
- At "Customer/Supplier:", enter the code for the Customer or Supplier to which the Opening Balance relates.
- Press <CR> to list all transactions.
- Find the Opening Balance transaction and make sure the arrow is pointing at it.
- Press [A] to Adjust.
- Enter the date for the adjustment.
 | If this is a late adjustment and you have already closed the month to which it relates, post it with a date of the 1st of the next month you are going to close. |
- Enter a comment, e.g. 'CORRECTION' (max 15 characters).
- Press <CR> to move to the "Total Amount" field.
- Enter the amount to adjust by, entering the minus sign if this is a negative adjustment.
 | Take care to post the adjustment the correct way round. See the examples below for assistance. |
 | If a £500 Invoice Opening Balance should have been a £400 Invoice Opening Balance, you would enter -100.00 as the value to adjust by. |
| If a £500 Invoice Opening Balance should have been a £400 Credit Opening Balance, you would enter -900.00 as the value to adjust by. |
| If a £100 Credit Opening Balance should have been a £300 Invoice Opening Balance, you would enter 400.00 as the value to adjust by. |
- The "Centre" should be 'Z995 - Profit to Date'.
- Press <Esc> and [Accept] to save the adjustment.
See also
