Transaction payment errors


HELP - I have made a major accounting error and can’t work out how to resolve it.

Basic details; I processed three separate invoices thinking the boss had paid them by by cash, so processed as cash payments.

I now find that these were actually paid by his private paypal account and subsequently paid his account back via the company bank account.

Some of the payments were in the previous VAT period, so I have tried to correct the three errors, but as there is not an overview of every transaction/payment/correction I can’t actually work out what the hell I have done, or what account the payment has been paid from…

Any ideas please???

Hi @TudorJones,

You could show the ‘paying back’ by the bank transactions being transfers to the cash account? you can just chose use the date on your bank statement so that it all tally’s up?

I tried doing that, but keep ending up with an unpaid transaction or untagged bank payment. Is there a way to search for an amount across the whole of QF to see where the mistake is?

I need to see where I have raised the invoice (I think I’ve put through twice now, but can’t find it) and where I have paid…

Hi @TudorJones

Can I just clarify the current situation please? I just want to make sure I understand correctly :slight_smile:

Let’s say, for simplicity, its a £100 payment. Do you currently have £100 tagged from cash to the 3 invoices (either as one £100 payment, or split as multiple payments), and £100 untagged in the current account?

No, not that easy!

I started with an invoice for £89.98 and an invoice for £98.72, both paid by cash, and an additional invoice for £8.56 and now a bank payment for £197.26.

I tried to journal a payment from the cash account to the paypal account, but that just left unreconciled transactions, so I deleted them.

Now I don’t actually know what I’ve done!!!

Oh and then I deleted payments to get the bank statement to work!! HAHA Completely lost the plot…

How do you view the full audit trail? That would help me.

Hi @TudorJones,

If you go into the invoice it should show you at the bottom what has been linked/paid etc

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