You don't really give enough information to give an answer.
Is it within period or have accounts already been produced including the error? Has it already been subject to VAT return?
You say manual, what do you mean by that? Hand written T accounts? Excel? a cashbook?
I'm just flitting in and out at the min so it may be myself or someone else who picks up the response (but whoever it is they would have asked the same questions).
Talk later,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Hi Shaun, thanks for your reply - I did say it's been 20 years!!!!!!!!!!
It's within period and no VAT return on it. Manual, as in chalk and slate! Writing everything in cashbook sales and purchase ledgers. Working with dinosaurs here!
if its gone nowhere near a computerised accounting system then simply delete (erase / put a line through) the transaction thats been entered twice and add a comment to the books to say what you have done as in a few months time you may end up scratching your head as to why you scratched this transaction. The day totals in the ledgers will be out but simply correct those and your done (there's something that you never really think about with computerised bookkeeping that does all of that for you).
If it had gone anywhere near a computerised package then you may have needed to journal the reversal (depending upon the software used, some such as VT you can still just delete unreconciled entries).
Are you going to be putting your clients data into a computerised package?
If they are just keeping things manually because they don't want to spend any money there a very simple free cashbook from VT that you could use
Its no use for professional bookkeepers, we use VT Transaction+ which is a lot more powerful but for clients who are writing everything out by hand it can prove useful.
A good book for hgetting bqack on the horse after you've been away for a while is Business Accounts by David Cox
That version can be picked up for pennies. There is also a 2012 version but for the bookkeeping part that never really changes so the pennies version is fine.
Its one of those books thats simple, explains things well and even when you are completely confident about your knowl;edge base you will find yourself still referring back to it on occassion.
HTH,
kindest regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
