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Amending a Tagged Transaction

IT IS NOT POSSIBLE TO AMEND A TRANSACTION ONCE TAGGED. INSTEAD YOU MUST POST AN OPPOSITE ENTRY TO THE ORIGINAL TRANSACTION TO EITHER CANCEL OR CORRECT THE ORIGINAL ENTRY.

FOR EXAMPLE, IF A PURCHASE INVOICE IS ENTERED TWICE IN ERROR AND THE VAT IS SUBSEQUENTLY INCLUDED IN THE VAT RETURN TWICE. IN THE NEXT VAT PERIOD, A REVERSAL OF THE DUPLICATE PURCHASE ENTRY CAN BE MADE TO RETURN THE VAT ELEMENT BACK TO REVENUE AND TO CANCEL THE DUPLICATE PURCHASE ENTRY.

TO REVERSE THE SECOND INSTANCE OF THE PURCHASE INVOICE ENTRY:

Reference

This is the internal reference that will cross reference the original physical invoice received from the Supplier which has been double counted.

Date

Date of original purchase invoice.

Supplier

Select the Supplier name from the list of Suppliers (F2) to which the original purchase related to that you are reversing.

Narrative

The Narrative field is an optional entry which may be used to give extra explanation or identify further the purpose of the reverse entry.

It would be advisable to use this field to reference the original batch entry purchase transaction that you are reversing.

Nominal Account

Select the same original purchase / expense account to which the original purchase invoice was posted.

F5

The F5 function key will display a historical breakdown of the transactions on the Supplier account (N.B. excluding any transactions within the current live batch as such entries have not been posted). This will help identify the original purchases / expense account to which the original purchase was posted which should be selected for this transaction entry.

Amount

Enter the Gross amount (bottom line figure inclusive of VAT) as a MINUS figure.

VAT Rate

The VAT rate is automatically linked to the appropriate purchase account used, e.g. if you choose "purchases at low rate" then a VAT rate of 13.5% will automatically be linked to the purchase. If you require a different VAT rate to be applied to the transaction entry then simply arrow through the VAT rates shown.

Simply stop on the appropriate VAT rate and this will apply to the transaction.

Post Entries

Select "Post Entries" to process the transactions once the batch is complete.

IN THE SUBSEQUENT VAT RETURN THE VAT ELEMENT WILL BE INCLUDED FOR RETURN TO REVENUE TO CANCEL THE PREVIOUS DOUBLE COUNTING AND OVERCLAIM.

THE SAME PRINCIPLES APPLY TO ALL REVERSE ENTRY, SIMPLY RETURN TO THE ORIGINAL TRANSACTION ENTRY SCREEN AND ENTER A CREDIT NOTE OR MINUS ENTRY.

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