Difference between revisions of "How do I adjust an account opening balance?"
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== Summary == | == Summary == | ||
| − | + | This article explains how to adjust an opening balance. | |
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== More Information == | == More Information == | ||
| + | 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. | ||
| − | + | {{Information|The ability to edit transactions is limited to users with the {{DataPrompt|Adjust transactions}} user permission set to {{DataValue|Yes}}. You can find out how to set user permissions [[How do I Set Up User Security in Platinum?#User Permissions|here]].}} | |
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| + | Go to {{Menu|{{SL}}/{{PL}}|Customer/Supplier History}}. | ||
| + | * At {{DataPrompt|Account:}} enter the [[How do I find a customer?|code]] of the customer or supplier account. | ||
| + | * Highlight the opening balance transaction you want to correct on the list. | ||
| + | * Press {{KeyPress|A-F2}} or {{Button|Adjust}} to make the adjustment. | ||
| + | * At {{DataPrompt|Date:}}, 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.}} | ||
| − | + | * At {{DataPrompt|Comment:}} enter a descrtiptive comment for the adjustment, e.g. {{DataValue|Correction}} (max 15 characters). | |
| − | * | + | * At {{DataPrompt|Totals:}} enter the amount to adjust by. |
| − | * | + | {{Tip|Use the minus sign if you are posting a negative adjustment.}} |
| − | + | {{Tip|text=If the transaction is an opening balance, see [[How do I Adjust an Opening Balance?|this]] article.}} | |
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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.}} | ||
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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 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 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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{{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}}. | + | * Press {{Button|Close}} and {{Button|Accept}} the changes to save the adjustment. |
| − | * Press {{ | ||
== See also == | == See also == | ||
Revision as of 11:13, 30 July 2019
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This article or section applies to a Platinum feature currently being developed. Be aware: Content may change. |
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This article or section is under review. Be aware: Content may change as the document is reviewed. |
Summary
This article explains how to adjust an opening balance.
More Information
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.
 | The ability to edit 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 to " Sales Ledger/Purchase Ledger Customer/Supplier History".
- At "Account:" enter the code of the customer or supplier account.
- Highlight the opening balance 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.
 | 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. |
- At "Comment:" enter a descrtiptive comment for the adjustment, e.g. 'Correction' (max 15 characters).
- At "Totals:" enter the amount to adjust by.
 | 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 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 [Close] and [Accept] the changes to save the adjustment.
See also
- How do I Find a Customer or Supplier?
- How do I adjust a transaction?
- How do I edit an Invoice after it has been posted?
- How do I edit a Credit after it has been posted?
- How do I edit a Payment after it has been posted?
- Recommended accounting routines
