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Bulk Move Mispostings


#1

I have set up some additional cost of sales accounts to keep track of different types of sales costs, but these accounts appear on the profit & loss report under Expenses instead of Cost of Sales. Is there a way to change these accounts so that they appear in the Cost of Sales section?
Thanks


#2

You would need to delete them and re-enter.

When you re-enter, select the following options, the code will then appear in the COGs section (5000-5999).


#3

Hi, Glenn
Thanks for your reply. There are several hundred transactions in these accounts, which I don’t want to have to re-enter. Would my best option be to create new accounts under Cost of Sales, and transfer the balances with a journal?
Thanks


#4

Yes that would be the best option. Any balance is then instantly moved to the new code.


#5

Hi,
I am Peter’s accountant and I am trying to finalise his accounts.
It would appear that your system does not cope with the ability to move mis-postings from one nominal to another.
Therefore, if the client (who is not a trained book-keeper or accountant) has entered items in the wrong place, the only way to move them is to journal the totals to a new nominal, which would mean that the original postings would always appear in the incorrect nominal.
Deleting and re-entering is not an option, as the bank has already been reconciled and the time it would take to re-enter hundreds of entries would be onerous and impractical.
Another issue would be that he has set up some cost of sales nominals under expenses rather than cost of sales.
Your system does not appear to cope with the ability to move these from one to the other or to simply rename the account.
So, in summary, once the nominal is created or the data is entered it is stuck there without incurring a lot of work to correct it.
Another issue that is difficult to deal with is that your nominals are all allocated numerical codes and as such, if you were examining the repairs nominal for example and then decided you wanted to find an entry in motor which was actually a non motor repair, you have to scroll down the whole list until you find it. Is there a way of prioritising alphabetically? It would be a lot quicker.
Many thanks,
Steve


#7

I don’t believe QuickFile is the exception here, most accounting systems don’t allow you to recode mispostings in this way (Sage & Xero been just a couple that have similar limitations). This is not to say that we won’t introduce such a feature in the future, although most of our development work is based on user feedback and I don’t believe this has been raised as an issue in the past. I certainly couldn’t identify this based on previous forum posts.

In most cases the accountant will just journal out any mispostings before filing the year-end.

EDIT:

I’ve discussed the recoding feature with a developer and it’s something that we could certainly look at in the short-term. It’s actually not difficult for us to implement.

It may not help you right now but if the situation arises again it should offer you a quick way to bulk change mispostings.


#8

Hi Glenn,
Thanks for that.
Your response confirms our concerns and justifies our approach with not using Sage, Quickbooks or Xero if at all possible.
The system we use is VT Software which allows all of the above without restriction.
If you were able to implement this facility in your system we would have no problem in recommending your system to our clients, as our job in moving mis-postings would be straight forward.
Steve


#9

Yes I did later read that VT supports this kind of bulk re-coding. I discussed the matter separately with our accountant here and he did mention that it would be a very useful tool, given how much time accountants and bookkeepers spend moving incorrect postings.

I’m pleased to say it’s something we’re looking at now, hopefully we will have some workable solution ready within the next 2 weeks.

EDIT:

We’re also looking at adding the ability for users to provide their own numbers (within certain parameters) when creating new nominal accounts. Again that should be ready within a couple of weeks.

Finally about listing codes alphabetically, we can definitely look at this. I tend to just use CTRL + F. But that’s not the most user friendly approach.


#10

Hi,

That’s good news.
The client has now moved some mis-postings from one account to another by using a journal for the whole amount.
I cannot now locate the original postings into the original nominal.
Could you please give me a clue…


#11

If you go to the Chart of Accounts (under reports) and then drill-down on the previous nominal code. Set the date to something like “All time”, can you see the original entries then?


#12

Hi,
Yes - got it thanks.


#13

Incidentally this is also where we will be developing the re-code tool. So you will be able to select up to 50 items at a time and change the nominal code.


#14

@PeterOR pleased to say we have now introduced a recoding feature. More on that here:

http://community.quickfile.co.uk/t/bulk-change-incorrect-postings/4984


#15

I am trying to re code a few postings and the drop down box doesn’t hang around long enough for me to change the code


#16

Hi @Jane_Wakeling

Thank you. I’ve responded to this in your other topic to keep it all together:
http://community.quickfile.co.uk/t/unable-to-recode-nominal-entries/12704


#17

Hi, I am trying to recode bulk entries from a loan account that is showing on our balance sheet as a current liability when we want it to show as a long term liabilities as this is over 5 years. I created a new nominal code in line with the 2300 - 2399 that you created for long term liabilities but I have tried following the instructions given on a link Glenn posted a while ago but it does not show up on the drop down menu. Is there a reason for this and if so what is the solution?

Thanks


#18

Hi @Dinky

How is the loan account setup? For example, is it a bank account at present, or just a nominal code?


#19

It is down as a loan account within the bank management dashboard. When this was created here it was assumed this would log as a long term loan and didnt think about the difference it would be at the time. It obviously still have a nominal code too.


#20

Because it’s a bank account, it’s restricted. Unlike a normal bank account, the entries can be tagged to invoices etc. If they are in another nominal code, these links can’t be retained.

I will check with a colleague to see if there’s another option - bear with me, and I’ll come back to you shortly.


#21

Ok thanks for your help. I have a feeling I will have to re enter them but I dont know if it will affect anything or if I can even delete the loan accounts afterwards.