Video Document - training: 01 howtomanuallychangeacontrathathasalreadybeencreated0911251524

Accounts Payable:Contra Accounts

Problem Description

Customer Problem:

The amount on a processed contra is incorrect and needs to be changed.

Additional Description:

It is always possible to do another contra to adjust the balance of the customer and supplier, but there is a way that leaves things cleaner. Note: I would only perform this fix if the contra was in the current book month I was working on.

Note: This video is 2 minutes and 57 seconds long.

Solution

The video will:

Review the situation

Show steps for finding the associated invoice and bill

Go through the steps to change the contra amount on the invoice

Go through the steps to change the contra amount on the bill

Review the results

Expanded Notes:

The situation: The value of the processed contra needs to be changed

Finding the bill: Go to your contra account and review the activity of the account. Notice that the type indicates whether the GL line comes from an invoice (I) or a bill (B).

Just Change the price field on the invoice

Make sure to retype the new amount as a negative for the bill.

CAUTION: if you get this backwards then the GL account for contra's will not add up to 0, and you may have to do some explaining to your accountant.

Once you are done, you can refresh the view of the GL account activity to see that you have performed the change successfully. If you like you can also review the customer and supplier accounts involved to make sure they have the correct balances.

Video source: training:01-howtomanuallychangeacontrathathasalreadybeencreated0911251524.flv

Created by Clifford MacKay at 11/25/2009 3:24:05 PM