SageForum for UK versions of Sage 50- Help and support.

Hello can you give me an idiots step by step guide to reversing a payment sitting on supplier account that has been vat reconciled but shouldn't be there

So appreciated
Thankyou
Anne

Assumptions:-

This is a Payment on Account
It is VAT reconciled so you are running VAT Cash accounting scheme.
You can not reconcile it on your bank rec because it never happened.


Solution:-


Enter a Supplier refund, use the same tax code as the payment and it should have the same net and vat amounts and be on the same bank account probably best to date it the same day etc.
Match the supplier refund against the Supplier payment to cancel both of them off on the supplier account, they should cancel each other out.
Do a dummy bank rec and match of the refund and the payment against each other, they should cancel each other out and not alter the B/F balance.

Thank you kindly bruce denny