Hi everyone. I have another question which is about the suspense account.
When I received some money which I could not allocate to any client at that moment I posted it into suspense account. Later on, I allocated it . How can I transfer this amount from suspense account into the client account?
If it's not been bank reconciled you could just delete the original transaction to the suspense account via error corrections and re-post the correct transaction to the Client's account.
Well, you can still delete it, but you have to be careful to go into the bank reconciliation and re-reconcile the transaction so that you get back to the correct last balanced amount. On another point, if you are on cash accounting for VAT then I don't think Sage will let you delete the transaction.
I'd advise against correcting in this way/for this reason. It's too easy to make mistakes and cause other problems further down the line.
Better would be to reverse the original transaction (if you posted a receipt to suspense, post a corresponding payment to suspense, and so on) and follow the reversal with the correct transaction (so if it was a receipt to suspense, it's now a receipt to the appropriate customer).
When you next do a bank rec, you have a matching payment and receipt to tick off that won't affect anything - if they don't match, you can see immediately that you've messed up.
Doing this also provides a better audit trail (your detail for the reversal should explain what's going on).
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
