How to handle locked and duplicate transaction in bank

Accounting
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Hi, I have a duplicate transaction in my bank account in QF (caused by manual bank statement import with overlapping dates) I want to delete one but both are automatically tagged to a payment to a supplier and also locked due to being included on a previous VAT return (cash accounting). What is the best way to resolve this?

  • Add a credit note (if so how is this done?)
  • Add a journal entry (if so how is this done?)
  • Get a QF Support guru to delete it for me!?
2

Hello @alexb42

Do not use a journal as you mention the original transactions are vat locked (included in a previous return). Journals are not picked up by the return.

If something is vat locked and was posted in error, I would recommend reversing the effects.

  • From the original invoice select More Options > Credit Note. this will reverse the affects of the original invoice and get picked up on your next vat return to reverse the incorrect figure HMRC has.

  • Refund the credit note on the same day as the original payment. This will correct your bank account as you will have a money in and a money out posting on the same day which will net off.

1 Like
3

Thank you @QFSteve for your amazingly quick response!

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