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Change date for Payables Transaction - Posted

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Please could you advise the possible ways to change the date for Payable Posted Transaction.

I cannot use Edit Transaction Information as it is already posted.

Insurance payment Document date was December 31. The correct date should be January of 2017.

Acct 6003 insurance debit 525

acct 2303 hst debit 42

acct 2001 payables credit 567

Cheque was cashed.

Thank you!

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twelvestrikes 3,657 on at

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Hi Laruchik

You shouldn't change the date of a posted transaction as that defeats the audit trail that was created.

The proper way would be to void the payables transaction and then re-enter it with the correct date. Note that you cannot use the same document number so if you put a period on the end or put an 'a' on the end or make a space this will allow you to post the invoice.

I also noticed that the cheque was cashed. Are you using bank rec and has a bank reconciliation been performed yet?

If not, here is what I would suggest.

Void the cheque, then void the payables transaction

Enter the transaction with the correct date and do a cheque on the fly to pay off the invoice. For the document number you will need to append it with a period, an 'a' or a space for it to be allowed. For cheque number you can use the same cheque number, but be sure that your settings in chequebook setup are set to allow the use of a duplicate cheque number for this one time.

Post the transaction. You will then have your transaction in January. Bank rec will show 2 cheques with the same number, one of them being voided. Don't forget to change the setting in chequebook setup back to not to allow duplicate cheques which is where it is most likely set.

The other option would be to just create reversing journal entries dated December 31 and Jan 1 to contra the December 31st entry and then have it expensed for January.

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Hi Jeffrey,

thank you for detailed answer. I appreciate.

I tried the other option and couldn't proceed with it as account 2001 doesn't allow account entry when creating General Transaction Entry.

Please could you advise.

Thanks

Laruchik

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twelvestrikes 3,657 on at

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HI Laruchik

There is a control setting for each GL account that indicates whether or not you can post GL entries to it.

In almost all cases you wouldn't enter and post a GL journal entry to control accounts such as AR, AP, Inventory etc.

To override this go to Cards > Financial > Account

Mark the box next to Allow Account Entry and then Save

This will allow you to enter and post a GL entry. Create a reversing entry to make it easier for yourself and then go and put the account back to not to allow Account Entry.

To keep your control account intact, you could use another account such as accruals for the entry.

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Community Member on at

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Hi Jeffrey,

that I was thinking to be correct: post to accrual AP account.

Thanks for confirming.

Very helpful.

I'm just getting familiar with the Microsoft GP and your answers are so important.

Especially such a timely answers.

BR

Laruchik

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L Vail 65,271 on at

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Laruchik,

Are you all set with the answers? If yes, please mark this as answered.

Kind regards,

Leslie

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