Hello,
When I was doing the bank reconciliation, I realized that one of our vendor cheques was deposited in a wrong amount. The amount we issued was $153, while the bank statement showed $53 only, not sure if it's due to a misread of the bank teller…
The company I work for has been shut down since COVID started. I was laid off in March 2020 and am just returning to clean up the books and get up to date. Reconciliation had not been done since February 2020. Fiscal Year-End is December 31st.
The issue…
Bank Activity:
Item 1: Customer 1 4/2/2018 Wire Transfer $500.00
Item 2: Customer 2 4/26/2018 Check 1234 $500.00
Item 3: Customer 1 4/30/2018 Wire Transfer $500.00
The person who reconciled the bank cleared Item number 1 and 2, instead of Item…
I'm not sure why we can reverse A/R payments and not A/P payments? I have had situations where we have prepaid items and then for whatever reason the funds were returned to us at a later date after I have reconciled the account. Then I have to do a debit…
It looks like this has been asked before, but the posts are ancient history so I thought that I'd ask again in case something has changed in the last eight years.
I reversed a cheque, but it was mailed and cleared our bank account. My reconciliation…
Hi all,
I have a situation in how to account for a creditor refund. The scenario is:
Prepayment to Goods Supplier 1000
Goods received 900
Supplier invoice 900
Supplier refund 100
As the prepayment as been paid on a proforma invoice, the…
Hi,
I am having trouble deleting an invoice in 2014. A purchasing department person created one invoice(A) with PO last year so did I(B) last year. So, the invoice A remains on Accounts payable report this year.
However, our company closed our last…
I (foolishly) adjusted a payables invoice several months after I'd reconciled the Credit Card account from which I paid the invoice.I did this as part of my year end review of my books (year-end is Sept 30). (The adjustment was to move the expense to…
I am entering all the payable and receivables for a ltd company for 2014.
The owner used a credit card for personal and business expenses and used the business bank account to pay for the credit card bill. How do I record the personal expenses so the…
When one of my own checks bounces for one reason or another, how do I input this into Sage 50 Accounting to match with my bank statement that the check was reversed on deposits but then withdrawn again on a 2nd attempt to deposit the check?
Thank you…
