I made a prepayment to a vendor and recorded it. However, the vendor has now refunded the amount back to us. I'm not sure how to account for it at the moment, but the refunded amount has been deposited into our bank.
any guidance?
I reconciled the bank statement for December 2023 in February 2024 and posted the reconciliation. Is it possible to change the reconciliation date after it has been posted?
My starting balance is incorrect in my remittance summary. I tried to adjust the payments part so it would zero it out but it didn't clear it out. How can I get it removed or adjusted?
Hello everyone...hoping you can help me out.
Back in January I ordered some inventory from a vendor of ours. The items shipped, arrived, invoice was included with goods so I paid the invoice and sent the cheque. Mid-March the cheque is still outstanding…
When the system was setup, the person who did the setup, opened the bank account with 50K CR instead of 50K DR. When I took over in January, I wanted to correct the opening bank balance. I went through the account setup and changed the opening balance…
The bookkeeper before me has the line of credit account set up as a cash account. So I am unable to record payments on it and account for it correctly. Sage will not let me simply change the account type to a liability. It is only giving me asset options…
