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Reversing a Receipt

A RECEIPT WHICH HAS BEEN POSTED CAN BE DELETED FROM THE DAYBOOK. HOWEVER IF THE VAT RETURN HAS BEEN TAGGED FOR THE PERIOD, THIS OPTION WILL NOT BE ALLOWED AND THE RECEIPT WILL HAVE TO BE “REVERSED”.

THIS MAY BE REQUIRED FOR EXAMPLE WHERE A CUSTOMER CHEQUE HAS BOUNCED OR BEEN RETURNED BY THE BANK.

BANK > RECEIPTS

Received into

Select the original bank account from the drop down list into which the original funds were lodged (bottom right hand corner of entry screen). It is important that you ensure you are working from the correct bank account at the start.

Reference

This is the original lodgement slip number or the bank statement reference in the case of Direct Debits/Standing Orders of the transaction you are "reversing". You should also add an extra "bounced" or "void" to the end of the reference.

Date

Date of original lodgement as recorded on the lodgement slip or in the case of credit transfers the date of lodgement into the bank account.

Customer / Payer

Select a Customer (F2) if a sales invoice relating to the receipt has already been posted.

Nominal Account

If a Customer is selected from the Customer listing the Nominal account will default to Trade Debtors, this cannot be changed. If it is a Payer receipt that you are reversing then choose the exact same Nominal Account as the original transaction.

Amount

Enter the exact amount of the original receipt as a MINUS figure.

VAT

In the case of reversing a Payer receipt then choose the same VAT rate that was attached to the original receipt.

The VAT element will flow through to the VAT report to be included within the Normal VAT Report for the period.

IF IT IS A CUSTOMER RECEIPT LODGED WHICH HAS THEN BEEN CANCELLED, THEN IT IS NOT ADVISABLE TO DELETE THE ORIGINAL ENTRY BUT SHOULD JUST BE EDITED IN THE DAYBOOK AND THE AMOUNT EDITED TO ZERO - THIS WILL ENSURE THAT A PROPER PAPER TRAIL OF TRANSACTIONS BETWEEN THE BUSINESS AND THE CUSTOMER IS MAINTAINED.

Need help? Support is available at 01 8352074 or thesauruspayrollsupport@brightsg.com.

Bureau Users Only

Installation Operation User Name Changing a company name

Company details VAT Registration Legal Type Customer Statements Opening Balance Date Cut Off Date

Adding a Customer Amending Customer Details Amending a Customer Name Deleting a Customer Dormant or Unused Customers

Adding a Supplier Amending Supplier Details Amending a Supplier Name Deleting a Supplier Dormant or Unused Suppliers

Adding a Product to the Product Listing Amending a Product within the Product Listing

Opening Balances

Opening Bank and Nominal Balances Opening Customer Balances Opening Supplier Balances Debtors File Import Creditors File Import

Customising for your use

Adding Nominal Accounts Renaming sales accounts Renaming purchases accounts Bank Account Names Income Accounts Expense Accounts Directors Accounts To Show Accounts To Hide Accounts

Sales - Batch Entry Sales - Reverse Batch Entry / Credit Note Sales - Invoice/Credit Note Entry Sales - Product Invoices - New Type Sales - Retail/Cash Sales Sales - Multi VAT Invoice Entry

Sales Invoice Printing

Invoice Printing Logo Import Emailing Invoices/Credit Notes Invoices not available to print

Customer Statements

Customer Statement Options Preparing a Customer Statement Report Previewing Customer Statements

Receipts Receipts - Using Payer Option Customer Remittance Advice Reversing a Receipt Allocating Customer Receipts Reversing Customer Receipt Allocations

Sales Related Reports

Sales Day Book Aged Debtor or Customer Listing Aged Sales Invoice Listing Customer Activity Report

Bad Debts Purchases Entry

Purchases - Batch Entry Purchases - Reverse Batch Entry / Credit Note Purchases - Multi VAT Batch Entry Purchases - Multi VAT Invoice Accounting for EU Purchases

Payments Payments - Using Payee Option Reversing a Payment Allocating Supplier Payments Reversing Supplier Payment Allocations Supplier Remittance Advice

Purchases Related Reports

Purchases Day Book Aged Creditor or Supplier Listing Aged Purchase Invoice Listing Supplier Activity Report

Transfers between Bank Accounts

Reconciling Bank Accounts

Bank Reconciliation Hide Reconciled Transactions Edit Bank Transaction Amounts

Corrections and Deleting

Corrections Deleting Transactions Deleting a block of transactions

VAT VAT - Sales Invoice Basis VAT - Cash Receipts Basis Late Receipt of Invoices Amending a Tagged Transaction

Directors Transactions

Director Paying Supplier Invoices Director Incurring Expenses Payments to the Director Receipts from the Director

Subcontractors & RCT Subcontractors & Reverse Charge VAT

Principal Contractors

Principal Contractors & RCT Principal Contractors & Reverse Charge VAT

Asset Purchase Pay for Asset from Bank Account Pay for Asset by Loan Finance Lease of Asset Hire Purchase of Asset

Sales Day Book Purchases Day Book Aged Creditors/ Suppliers Listing Aged Debtors/ Customers Listing User Defined Report

Petty Cash Transactions Lease Repayments Hire Purchase Repayments Directors Salary / Remuneration Thesaurus Payroll Journal Third Party Payments / Form 46G Journal Entry

Preset Journals Journals

Exporting an Audit File Importing an Audit File

Accounts Production

Accruals Prepayments Nominal Ledger Report Trial Balance Comparatives External Trial Balance Input Management Accounts

Stock Control Archive Transactions Backing up your Company Files Restoring a Back Up CSV Import Schools Version

RCT and VAT - schools