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Riaan Hefer

Correction of TERS & SAFT Codes

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Good morning,

How does one rectify the YTD balances between codes i.e. 5026 (TERS) and 5027 (Other Relief Fund Payments)...? Before the code 5027 was released Covid-19 Relief Fund Payments (not TERS but SAFT) were processed on 5026 for employees. How do I reclassify these backdated Relief Fund Payments (that is not TERS) to 5027 before finalizing AUGUST mid-year figures...?

Thank you for your assistance.

Riaan

 

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    Good day Riaan Hefer,

    Thank you for the post.

    You will need to do a corrective transaction.

    On code 5026 you will add the amount as a negative and then on the code 5027 you will then add the amount as a positive,

    For example 5026 R - 500 and code 5027 R 500.

    Kind regards

    Christelle

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