Opening Debtors payment against locked accounts

Accounting
1

Opening Debtors payment against locked accounts
Hi all.
Just a quick sense check.
I have received payment for an invoice generated prior to the end of the tax year. I have locked the accounts to the end of the tax year to facilitate accounting etc…
Now the invoice is paid how do I correctly update the invoice? Do I just change the lock date, and re apply it when payment is marked against the invoice?
Many thanks
Valerie

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Hi again
Further to this, I have also just realised that I have incorrectly allocated a payment against another invoice to the current account rather than to my cheque holding account, as it should have been. This invoice is also in a locked period and journal.
I dont fully understand journals and the locking of them and dont really want to be deleting them without really understanding the consequences.
So how do I modify the invoice to allocate the payment to the cheque account and not to my current account and also make payment againt another invoice raised in a previous tax year.
Any guidance and/or a walk through would be much appreciated.
Thanks

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You’re not actually changing the original invoice, just adding a payment to it. This is still possible even though the invoice resides in a locked period, you shouldn’t have any problems allocating a payment to it.

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Thanks I’ve revisited this I was over thinking it and made a mistake with the update. All fine now. Dunce hat is on :smile:

Could you let me know how to modify an invoice in a locked period though. I need it to allocate the payment to my cheque holding account not to my current account, I am only able to modify the method not the destination account.
Thanks as always for you help and patience Glen.

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No problem,

It’s seems like you’re not modifying the invoice but the payment? If the payment is in the locked period and you’re moving it between accounts, you’d definitely need to rollback that lock first (i.e. delete the last set of year end journals).

Once the lock is gone, you can go into the payment record and modify the bank here:

The other simpler approach would be to just edit the year-end journal and move the balance from the wrong bank account to the correct one.

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Thanks.
The journal option seems the best, in principal. I dont understand how I would debit my current account to credit the cheque account? Can I make a journal entry in a locked period or do I need to remove the locks?
I cant seem to see the bank accounts in the journal. Journals are some what of an enigma to me so apologies for the questions. And thank you.

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Hold that thought. I think I have sussed it ive found the nominal code from the list of nominals and I just go in to the new journal entry and debit and credit accordingly? Sorry Glenn, accountancy sortware is new to me.

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If you go to Reports >> Journals you will see a list of all journals on your account.

You should be able to create a new one and set it up like this:

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Just to confuse matters further… Debits and credits are reversed in accounting. So by Crediting the current account you are actually transferring money out of it to the other corresponding account.

If you get it the wrong way around don’t worry, you can always edit it again.

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