Backout a posted transaction in Accounts Payable module

  • Backout a posted transaction in Accounts Payable module

    Posted by DSC Communities on April 28, 2017 at 1:23 pm
    • Farida Hassan

      Member

      April 28, 2017 at 1:23 PM

      Hello everyone,
      Is there anyway I can correct an account on a posted batch in Accounts Payable module?
      Please advise.
      Thank you,
      Farida

      ——————————
      Farida Hassan
      Marymount California University
      Rancho Palos Verdes CA
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    • Kristen Hosman

      Member

      April 28, 2017 at 2:59 PM

      Hi Farida.

      Have you already posted the invoice or the batch the invoice was assigned to when it was entered?  If so then the easiest thing to do would be to have your Accounting department do a journal entry to move the expense to the right account.

      ——————————
      Kristen Hosman
      Accounting Manager
      PlatinumCode
      Pine CO
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    • Bert Green

      Member

      April 28, 2017 at 3:25 PM

      I concur with Kristen that a manual journal entry is the easiest way to go. Just make sure you have enough information to tie it back to the original entry.

      Otherwise there is a third party add in that may fit your needs.
      http://reporting-central.com/whats-the-best-way-to-correct-an-ap-distribution-error-in-dynamics-gp/

      ——————————
      Bert Green
      GP Developer/GP Administrator
      Berger Transfer & Storage, Inc.
      Saint Paul MN
      GP2015/MR CU11
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      ——————————————-

    • Farida Hassan

      Member

      May 1, 2017 at 11:21 AM

      Thank you all for taking your time and reply back to my question.  I am new to GP and I am still learning but thanks for your kind advice.
      Regards,

      ——————————
      Farida Hassan
      Accounts Payable Coordinator
      Marymount California University
      Rancho Palos Verdes CA
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      ——————————————-

    • Jo deRuiter

      Member

      May 1, 2017 at 7:29 AM

      I will stipulate that a manual journal entry is the easiest way to go. 

      But, in my experience you always want your subledgers and GL to match. 

      If someone ends up trying to look and see what happened to this entry at a future date it may end up being a difficult search with a JE fix.

      I would recommend voiding the transaction in AP and reentering it.   This is the best practice for this situation.

      Please let me know if you have any questions or concerns.

      ——————————
      Jo deRuiter
      Lead Techno Functional Consultant
      Aisling Dynamics Consulting
      Canton GA
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    • Joni Finnell

      Member

      May 1, 2017 at 8:40 AM

      Farida:

      If the invoice is posted but not paid, I would agree with Jo that the best practice is to void that invoice and re-enter it. Otherwise, it can throw off your balances.

      If it has been paid, then I agree with Kristen and Bert to do a journal entry with fantastic backup. One additional thing that I do is to write a note on the original invoice where it was reclassed to with the JE #. It helps to follow the audit trail a little easier. 😎

      Have a good day.

      Thanks

      ——————————
      Joni Finnell
      Project Accountant/GP Troubleshooter
      Consumer Support Services, Inc.
      Newark OH
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    • Nancy Edwards

      Member

      May 1, 2017 at 10:36 AM

      We correct these in the Purchasing module, Transaction Entry, using the Credit Memo document type-but not assigning any amount to the credit (a zero credit memo).  For the document number we use the original invoice with a C at the back of it.  We use the same descriptions so they match up easily on the reports, or could add something like “GL correction”.  Then it is basically a journal entry-crediting the wrong GL number and debiting the correct GL number. 

      This allows us to see the correction in the vendor right down to the specific invoice that had the error (so hopefully we won’t make the same mistake again), and the purchasing module, as well as the financial module.  Much easier to trace historically.

      Just remember it is a zero credit memo!

      ——————————
      Nancy Edwards
      Accountant
      H&W Computer Systems, Inc
      Boise ID
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    • Tina Girdner

      Member

      May 2, 2017 at 5:15 PM

      If the invoice has already been paid, we basically do the same as Nancy Edwards suggests, but we normally leave the “Document Type” as “Invoice”.    We haven’t had any problems using “Invoice” and it doesn’t sound like Nancy has any problems using “Credit Memo, so I’m guessing either will work.

      If the invoice is still unpaid, we use the Void Open Transactions and then re-enter the invoice correctly.

      Good luck and hope you don’t have to use this too often.

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      Tina Girdner
      Tiffany Care Centers, Inc.
      Mound City MO
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    • Theresa Rago

      Member

      May 3, 2017 at 8:59 AM

      There is a product called The Corrector, from Reporting Central, which will allow you to bring up the distribution and make the correction.  It creates a ‘rich’ journal entry which means it contains the same data elements as the original entry such as vendor id, document #, etc. which can be pulled into a smartlist.  It is available for other modules as well.

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      Theresa Rago
      Manager, Financial Systems
      CV Starr & Co, Inc.
      New York NY
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    DSC Communities replied 7 years, 1 month ago 1 Member · 0 Replies
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