I have 2 invoices and 3 payments on one supplier in a previous (locked) accounting period which net to zero. The payments need allocating to clear what shows as an outstanding balance in the supplier record. It seems that, to achieve this, I would have to delete last year’s year-end journal and re-open the previous period. I am worried about taking such action. Is there any easier way of marking off these transactions as closed?
Are these payments and invoices showing as untagged?
You can tag payments to an invoice if it is within a locked period but if you have untagged payments within that locked period then the only way to tag these is by unlocking the period.
Before running year end it is best to make sure that all payments have been tagged and allocated correctly
Thanks @QFBeth. These transactions pre-date our bank feed so are not tagged, as far as I can tell. I certainly agree about allocating before year-end but we just missed these for some reason. We’ll do better next year!
To keep an eye on tagged transactions when looking at your bank accounts there should be a little box with a number if you have anything untagged:
Clicking on the red box will then bring up all of the untagged entries - hope this helps
If I remove the year-end journal (31/12/2020) and do nothing other than allocate payments against invoices, then re-run the y/e journal for the same date, I should get the same journal entries and be back to where I started? Is there any way I can backup the current position and revert to it if I get a problem?
You can run a backup of your account but you won’t be able to “undo” to a certain stage.
If you remove the lock, make the changes and then re-run the journal would be almost identical. They payments that were unallocated would have pointed to a different nominal but the end result should be the same.
Hope this makes sense
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