Payment posted from bank instead of credit card and now it's locked so can't delete it

[Softley]

During the last vat quarter, I’ve posted a payment as paid from my bank account rather than from the credit card account. The credit card balance has then been paid off from the bank account too. I tried to delete the payment and change it to having been paid from the credit card account but it won’t let me as it’s in a locked period. Any advice how to correct this, please? Thanks

[QFSteve]

Once a transaction has been vat locked it can not be edited or deleted.

You can however move the transaction in the chart of accounts.

• Go to Reports > Chart of accounts and view the code it is currently on (In assets and liabilities section)
• Locate the transaction and select it
• Click Move to new code
• Choose your credit card account

The images below are from an example on a test account

[Softley]

Thanks for that but I’ve followed the steps to click move to new code and it comes up with ‘RE-code postings’ and a list of categories, none of which are credit card account. Please advise further.

Thanks

[ian_roberts]

You’re definitely looking at the nominal view of the bank account where the payment currently sits (with a 12xx code number), not the nominal code of the purchase line itself (with a code starting 5, 6 or 7)?

You’re trying to move the payment transaction from one 12xx code to another 12xx code.

[ian_roberts]

To clarify, when you create a purchase it generates three (or more) nominal transactions on the date of the purchase

• debit the purchase category code (e.g. 5000 general purchases) for the net amount
• debit purchase tax control account for the VAT
• credit “creditors control account” for the gross total

When you pay it generates two more nominal entries on the date of the payment

• debit creditors control
• credit the paying bank account (12xx)
  • yes, credit - money out transactions in bank accounts are credit entries in the nominal view, which is back to front compared to how you’re used to seeing your bank statements

If you re-code the 5/6/7xxx debit entry that changes the category for what you purchased (such as moving general purchases to advertising), if you re-code the 12xx credit entry that changes where you paid it from.

[Softley]

That’s great, it’s now sorted. Thanks a Lot.