Difference between revisions of "How do I adjust an account opening balance?"

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* 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 to whom 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 whom the Opening Balance relates.
* Press {{KeyPress|Enter}} to list all transactions.
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* Press {{KeyPress|ENTER}} 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.
* Enter the date for the adjustment.  
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* Enter the date for the adjustment.
  
 
{{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. {{DataValue|CORRECTION}} (max 15 characters).
 
* Enter a comment, e.g. {{DataValue|CORRECTION}} (max 15 characters).
* Press {{KeyPress|Enter}} to move to the {{DataPrompt|Total Amount}} field.
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* Press {{KeyPress|ENTER}} 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.
  
 
{{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.}}  
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{{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.}}
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* The {{DataPrompt|Centre}} should be {{DataValue|Z995 - Profit to Date}}.
 
* The {{DataPrompt|Centre}} should be {{DataValue|Z995 - Profit to Date}}.
* Press {{KeyPress|Esc}} and {{Button|Accept}} to save the adjustment.
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* Press {{KeyPress|ESC}} and {{Button|Accept}} to save the adjustment.
  
 
== See also ==
 
== See also ==
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* [[Posting Purchase Invoices]]
 
* [[Posting Purchase Invoices]]
  
{{KB_Tags|Opening balance, Correct, Correction, Incorrect, Adjust, Adjustment, Reverse, Reversal, Opening Balances}}
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{{KB_Tags|opening balance, correct, correction, incorrect, adjust, adjustment, reverse, reversal, opening balances}}
{{KB_SL}}{{KB_PL}}{{ZN_Accounts}}
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{{KB_PL}}{{KB_SL}}{{ZN_Accounts}}

Revision as of 12:15, 21 December 2018

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 whom the Opening Balance relates.
  • Press <Enter> 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 <Enter> 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


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Keywords AND Misspellings
opening balance, correct, correction, incorrect, adjust, adjustment, reverse, reversal, opening balances