Adjusting Transactions
Sage 50 Accounting provides two ways to correct transactions: by adjusting and voiding them.
The adjustment feature allows you to correct transactions after they have been processed, without having to record two entries in your company ledger. Sage 50 Accounting automatically reverses the original transaction and enters the corrected transaction in one step, behind the scenes.
View a list of transactions you
can adjust in the current and previous fiscal years
- General Journal entries.
- Purchase Bills.
- Payments. You cannot adjust payments made to credit card companies.
- Sales invoices
- Receipts.
In order for automatic adjustments to work, the details of the original transaction must be available in your company data. You cannot make adjustments if you have cleared the transaction details or deleted the supplier or customer record.
If you ever need to find adjustment details, display the appropriate Transaction report. Make sure you select the Corrections box in the Modify Report window. Adjustments can be easily identified by their comments.
Note:
- Credit notes are generated when you adjust sales and purchase invoices that have already been fully or partially paid.
- You can void and re-enter those transactions that cannot be adjusted in the program.
- To record an NSF cheque from a customer, you should void the receipt.