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2Hi all,
I'm new to using Business Central having just started using it for my new business (also new to business accounting in general). I think I have probably incorrectly raised a payment journal entry and need some help. I was trying to import and reconcile my bank statement for the first time. Their was a direct debit payment on the statement for one of my vendors, and as this was a DD I didn't have an associated purchase invoice I could easily reconcile this against. Being new I (foolishly?) asked Copilot how best to reconcile this transaction and was told to first raise a payment journal entry against the vendor with the balancing account set to my bank account, which I did. Posted the journal entry, reconciled against my bank statement -all done!
However when I now look at the vendor ledger for this vendor, the payment journal entry is listed as OPEN and the ledger is out of balance by the value of this payment. Copilot now tells me that maybe it's first set of advice wasn't the best and is recommending a whole load of corrective actions which even to me sound dubious at best. So how do I now balance the ledger (£0.00) without creating an even bigger mess? and how should I have raised this correctly in the first place?
I've also realised that raising this payment the way I have means that it isn't appearing against any of the GL accounts in my chart of accounts - which also seems like it might be a problem?!? (at least from a reporting perspective)
Any help you can provide is very greatly appreciated, as this all feels like a very steep learning curve atm!
However when I now look at the vendor ledger for this vendor, the payment journal entry is listed as OPEN and the ledger is out of balance by the value of this payment. Copilot now tells me that maybe it's first set of advice wasn't the best and is recommending a whole load of corrective actions which even to me sound dubious at best. So how do I now balance the ledger (£0.00) without creating an even bigger mess? and how should I have raised this correctly in the first place?
I've also realised that raising this payment the way I have means that it isn't appearing against any of the GL accounts in my chart of accounts - which also seems like it might be a problem?!? (at least from a reporting perspective)
Any help you can provide is very greatly appreciated, as this all feels like a very steep learning curve atm!
JW
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