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VT Transaction+

Navigation: Reports, correcting mistakes, bank reconciliation

Correcting mistakes

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Editing or deleting a transaction

Any aspect of a transaction can be changed by clicking on it in an account or any other report window (including an unsaved bank reconciliation or VAT return) with the right mouse button and choosing Edit Transaction from the pop-up menu. In the account window you can also click on the three dots at the right-hand end of an entry.

You can use the Edit Transaction dialog just to see all the details of a transaction. You can then change any aspect immediately if it is incorrect.

A transaction can be deleted by clicking on it in with the right mouse button and choosing Delete from the pop-up menu.

You can correct a transaction that has been entered as the wrong type (for instance as a PAY instead of an REC) by choosing the Change Type command from the pop-up menu.

Several entries in the wrong account can be corrected by displaying the account, selecting the entries and then by clicking on the Move Entries button near the top of the account window.

Correcting transactions that have been included in a bank reconciliation or VAT return

You cannot make a change to a transaction if that change would affect the total on a saved bank reconciliation or VAT return. Therefore you need to:

Reverse the original transaction

Re-enter the transaction correctly

To reverse the original transaction, right-click on it and select Make Reversal Copy (or Raise Credit Note for an invoice). This creates a new transaction which is the reverse of the original. You can then re-enter the transaction correctly.

Usually, unless a prior period adjustment is required, the above adjustments can be dated in the current financial period. However, the software will allow you to backdate the transactions should you need to.

Correcting allocated transactions in customer/suppliers ledgers

To correct an invoice that has been allocated to a payment:

1.Reverse the original invoice (right-click on the transaction reference number and select Raise credit note)

2.Reverse the associated payment (right-click and transaction reference number and select Make reversal copy)

3.Select customers Customer button or suppliers supplier button depending on which type of transaction you are correcting

4.Select the customer/supplier

5.Select the All Entries tab; if any transactions are highlighted in blue, de-select them by clicking on the undo selection button de-select_entries

6.Select the Open Entries tab and select the reversed transactions only so that they are highlighted in blue

7.Click on the contra button contra (or right-click and select Add contra mark) to match off the reversed transactions against each other

8.Re-enter the correct invoice

9.Select customers Customer button or suppliers supplier button depending on which type of transaction you are correcting

10.Select the customer/supplier

11.Select the invoice and click on the REC (for a customer) or PAY (for a supplier) button that appears above it (not the REC/PAY button on the main toolbar), to re-enter the REC or PAY.

12.Step 11. should automatically match of the corrected invoice and payment against each other. If not, manually allocate them in the same way as in steps 5. to 7.

Locking previous periods

You can prevent transactions and entries from being changed or deleted by choosing the Lock Previous Periods command from the File menu. You can also apply a password if you want to stop other users unlocking a period.

You can prevent unauthorised users editing and deleting transactions by choosing the Set Up>Passwords command.


Section of an account window showing the Move Entries button that appears when you select one or more entries

Related topics

Prior period adjustments

Pre-VAT registration purchases