Allocated to wrong Bank Account

[Rachael_Rmcraft]

Hi
I have done a bulk allocation for my sales invoices. I have made it to the current account instead of the combined account. Can this be done in one transaction of do I have to delete each payment of each invoice and redo the payment allocation?

[QFMathew]

Hi @Rachael_Rmcraft

You may be able to do this with the bulk re-code tool which is found on the nominal code view. My colleague outlines the steps in his post:

Bulk change incorrect postings

It’s not an uncommon scenario, you’re bringing your accounts up to date and realise that you’ve been posting an expense to the wrong nominal code all year, you have 100s of invoices posted to “Office Equipment” when it should have been “IT Consumables”. Before you had to either transfer the total as a single journal or manually change potentially 100s of invoices. the first option was always the more sane approach, although something of a compromise! Introducing the recoding tool From your ch…

This will allow you to move the postings from one bank account to another in a few clicks. Although it is limited to 50 per page, it should certainly speed up the process for you.

I hope that helps!

[Rachael_Rmcraft]

Thanks for that but it doesn’t give you the bank options just a few nominal codes

[QFMathew]

It should show you a list of nominal codes in the same range (e.g. Sales nominals, Purchase nominals, Asset and liability nominals etc.)

@Rachael_Rmcraft

current account instead of the combined account

Are these both of these bank accounts?

[Rachael_Rmcraft]

Yes. I’m getting that. When I go into sales nominal and click on search button beside General sales it shows the list of invoices. Its the payments I am looking to transfer

[QFMathew]

Just to clarify, you now have a load of payments tagged to invoices in the Current Account rather than another bank account called Combined Account, and you want to update them to the Combined Account. Is that correct?

[Rachael_Rmcraft]

Yes that’s right. From Current Account to Combined Account

[QFMathew]

Thanks for confirming!

The bulk tool will do this for you. On your Chart of Accounts (Reports >> Chart of Accounts), scroll down to the bottom and expand the Assets and Liabilities section. This will contain all the bank accounts, amongst other codes.

Go into your Current Account (which, if it’s the default account, will be code 1200), and tick all the transactions you wish to move. Then, click on “Move to a New Code” at the top of the page:

This will then show an option to select the new bank account you want to move it to (in your case, Combined Account). OK this, and it’s all done for you.

Providing they aren’t within a locked period (e.g. due to the year end process being run), and they’re not being moved to a different currency (e.g. from a GBP bank account to a USD one), then this should work all OK.

But please let me know if you encounter any issues.

[Rachael_Rmcraft]

Brilliant, Thank you. That worked and saved a lot of hassle