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TBCguy

Reverse prepayment from two years ago

Posted By

Hi there, I have a situation for a company we are doing books for.  My client has a payable balance for one of his suppliers of 3000. Now he says he paid it completely off.  After Investigation, we found the original invoice and it shows that there was 3000 deposit on account.  This would fix the payable issue but, the 3000 deposit was posted to different company (very similar name).  I can't figure out how to reverse this and set it straight.  The deposit happened 2 years ago.  Thus I can't just reverse it and re-enter it.

any ideas

  • 0

    Hi ,

    Thanks for reaching out, was this for Sage 50 CA? If so, then please post your question in this forum for Sage 50 CA General Discussion so that other users of this software will see it and can offer you their thoughts and insight.

    Sage 50 would only allow you to modify transactions for the recent two years. If you are working in Sage Business Cloud Accounting software you have more flexibility with older transactions, here's an article on how to reverse or cancel a payment, invoice or credit note in Sage Accounting.

    Thanks,

    Erzsi

*Community Hub is the new name for Sage City