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Sherry Lee

Making changes

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Hello. I have no accounting training but have recently taken over AR/AP for our company.

I am not sure how the accountant has been closing off each month as balanced given the number of errors I have been finding. In any case, I need help knowing how to make corrections to things in a previously closed period.

Example 1...Power bill for $93.45 from April (which is now closed) finally got paid July 15.

Example 2...Repair invoice for $120 from April 4 was actually paid April 15 but was never recorded as paid.

Example 3...Water bill for $84.75 from April 2 was incorrectly recorded as paid April 15 but did not actually get paid until July 15.

Any help would be appreciated.

EDIT:

The point of my question is how to make changes in a "CLOSED" period. A closed month means I am not allowed to touch it, so I can't just change dates or void previous transactions. Anything I do needs to be done in the current month. So, for the examples I gave:

Example 1...Power bill for $93.45 from April (which is now closed) finally got paid July 15. How do I post the July 15 payment so that it zeros out the $93.45 that is still showing from April without touching April.

Example 2...Repair invoice for $120 from April 4 was actually paid April 15 but was never recorded as paid. How do I record an April 15 payment now and link it back to the April 4 invoice without touching April?

Example 3...Water bill for $84.75 from April 2 was incorrectly recorded as paid April 15 but did not actually get paid until July 15. How do I make this adjustment without touching April?

  • 0

    Sherry Lee-

    It can take some time to learn a new program.  For audit purposes, Sage Business does not allow you to edit the date of a transaction.  If a transaction was posted with the wrong date, then you need to void the transaction and repost it with the correct date.  If a payment was posted using the wrong date, void the transaction using the original date it was posted, then repost using the correct date.  Our system will let you post to a prior month as well.  For more information about posting to a prior month see article  from our Knowledge Base How to post using prior and future transaction dates (18022) or your can use the link https://support.na.sage.com/selfservice/viewdocument.do?externalID=18022 

    You can also go to sagecity.com/resources and select your region and product.  Here you have access to our Knowledge Base as well as Chat.  You can use the Chat with Sage if you need additional assistance on your how to correct your specific transactions and what are your options.

    Sincerely,

    Coleen

  • +1
    verified answer

    Hi Sherry Lee-

    I hope this explanation helps-

    Our system is transactional based and uses the posting date to record the transaction and post to the General Ledger.  The user has control of the transaction date when posting a transaction.  They can accept the default date OR change it to the posting date they need for the transaction.  In our system you can post to a past month or use the current month.  If you cannot post to a past month for your accounting records, then your only option is to post the transaction using a current date. 

    EX 1:  If the invoice is still open, then you can just pay it using the July date.  If the invoice is already closed, then you need to determine what closed it.  If a payment was posted using the wrong date (like similar to Example #3 below) you would need to void the payment to reopen the invoice, then repay the invoice with the correct date.   

    EX 2:  If it was paid in April but was never record and you cannot use the April date now, then post it using a current date of your choice

    EX3: You can void the April 15 payment (that was posted using the wrong date) but use a current date (July) for the void since you cannot post to a past month.  Then repost it with the correct July date.

    If this does not help, then I recommend working directly with a support analyst to discuss your options for these transactions.  Use Help, Sage Live Chat in the program to start a Live Chat.  If necessary, they can schedule an appointment with you to work directly with a support analyst as well.

    Sincerely,

    Coleen

*Community Hub is the new name for Sage City