I have mistakenly assigned some transactions from a Purchase invoice to a Sales Nominal Code. This transaction has now been locked in a VAT Return. As a result my Profit & Loss account is showing incorrect figures. Is there any way to change the Nominal code from a Sales to a Purchase code to resolve this issue?
Hello @GlitterEvents
This is not possible once they are vat locked.
You would either have to
Move the value manually with a Journal
Or
Credit each invoice and re process them (the credits and new invoices would then be picked up on your next vat return).
Magic - thank you very much
It might be possible with the “move to new code” tool - if you click through to the nominal account with the wrong posting from your P&L report, select the checkbox for the relevant entry and then “move to new code” - but I’m not sure whether that will let you move from a purchase-related code to a sales-related one or vice versa, I have a niggling suspicion that it only allows moves within the same heading.
Failing that by far the simplest fix will be just to journal the amount from the wrong code to the right one - credit the sales code and debit the purchase one. If you set the journal date to the same as the purchase date then everything will be perfectly consistent.
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