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Forum Guru
 
Group: Forum Members
Last Login: 12/07/2011 2:31:58 AM
Posts: 70,
Visits: 179
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Hi,
I purchased an instalment receipt and, although I had entered the correct amounts I notice on may bankl reconciliation that an extra 10 cents had been taken (a typo I presume). I wanted to bring my records in line with the bank statement so I went to edit the transaction and amended the cost by 10 cents. I keep getting a message that the line items are not in balance. What am I doing wrong?
Regards
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MySF Administrator
Group: Administrators
Last Login: 4/11/2010 3:24:01 PM
Posts: 464,
Visits: 633
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Hi,
This is likely to happen because only one line, the CR to the bank, is being edited and the other stays as is so they end up out of balance.
Please note that if there was a typo in the entry of the asset, then editing the transaction itself will not correct the details of the asset. The asset should be edited through Housekeeping > Utilities > Financial Asset Editor. This will change the asset record as needed and post a new transaction.
Regards,
MySF
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Forum Guru
Group: Forum Members
Last Login: 12/07/2011 2:31:58 AM
Posts: 70,
Visits: 179
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| Hi Sorry to be a pain but something just isn't working for me. I go to transaction reporter. I select the entry and click on major edit. It brings up Record Payments box. Near the top of the box there is an amount which equals the net figure. In the line items section I can see the consideration and the brokerage as two items for a/c 1154. There is also a line item for the net figure as well. It doesn't seem to matter how I adjust these so they look right on the screen, I still get the same message about the line items. Obviously, I'm still doing something wrong. Could you please step me through the process. Thanks
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MySF Administrator
Group: Administrators
Last Login: 4/11/2010 3:24:01 PM
Posts: 464,
Visits: 633
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Hi,
The total amount listed on each of the lines in the middle of the screen must total the amount that is shown in the 'Amount' box at the top of the screen. Please note that when you change the amount at the top of the screen, the amount on the first line in the middle of the screen gets updated as well, which may be the reason that it does not add up at the end.
In any case, it is important that you do not edit transactions from an asset purchase in this manner as that will mean that the asset record and the balance of that assets account in the general ledger become different. This can cause problems later on. If you need to change the entry of an asset due to a typo, you should do it through Housekeeping > Utilities > Financial Asset Editor.
Regards,
MySF
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Forum Guru
Group: Forum Members
Last Login: 12/07/2011 2:31:58 AM
Posts: 70,
Visits: 179
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Hi,
I hate to say this. Can you step me through this as well. The dialogue box says balance of the asset is not zero and modifications can't be saved. I suspect I have reversed the original transaction but I'm really very confused.
Regards
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MySF Administrator
Group: Administrators
Last Login: 4/11/2010 3:24:01 PM
Posts: 464,
Visits: 633
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Hi,
To edit an existing asset using the financial asset editor you should go to Housekeeping > Utilities > Edit Financial Asset and follow these steps:
1) select the asset you wish to change
2) click on edit
3) make the changes needed
4) click on update.
Normally this process will reverse the transaction posted at the time that the asset was added, but there are exceptions. If the asset was added as a historical purchase and an opening balance posted, then you will see the message from your post "Asset account balance is not zero. Modifications cannot be saved." The reason for this is that an opening balance can potentially affect many other accounts and will therefore not be reversed automatically.
The remedy is to find which transaction posted to that asset's account and reverse it. To find out which transaction needs to be reversed, you should 1) go to System Setup > General Ledger Accounts
2) select the account that represents this asset in the general ledger (usually under Assets > Current Assets > Financial Assets > Shares)
3) when you select the account you should see its balance on the right hand side of the screen in the "Current Balance:" field
4) double click on the account to see which transactions have posted to this account
After you have identified the transaction that needs to be reversed, you can reverse it by going to Reporting > Transaction Reporter, selecting the transaction in question and clicking reverse.
Once the balance of the asset's account is zero you will be able to edit the asset as described originally.
Please note that if you are editing assets for which there was no opening balance posted, or the transaction posted was not an opening balance you do not need to follow the steps above.
Please let us know if this helps.
Regards,
MySF
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