Invoice paid before accounting period

Problem reported by Graham Palmer 5 years ago

Hi there,

I have just started using Clearbooks with my account period starting 01/01/16. I have an issue with an invoice that was dated January but paid in advance n December.

When I input this to the system declaring the date it was paid, this altered my opening balance for the start of January deducting the amount paid in December which should not have affected it.

When I then resubmitted my opening balance to what it was before it actually doubled it, adding my opening balance as a deposit. I then resubmitted the existing opening balance again and it was accepted this time with an amount showing as a withdrawal to my bank account but bringing it in line once again to show my true opening balance??

I was hoping that the system would just take the dates into consideration and accept that a payment was made in December before my accounting period which would have contributed to the opening balance as specified at the start of January. I am now left with a large deposit and withdrawal showing on my account in December that didn’t actually happen. Can this be rectified please. Kind regards, Dana.

2 Replies

Hi Dana

I'm assuming you used the "Getting Started" section to enter the opening balance(s) at 1 January. All this does however is to put a bank entry in dated 31 December with the other side going to the retained earnings account, in other words it's pretty much like any other bank transaction and so if you go and enter another transaction before this date CB can't ignore it, it's another entry to effect the account balance.

I'm assuming that even though you talk about Invoices you actually mean a supplier bill?

The answer here is that if you paid a sum in advance last year then it should be reflected in the other opening balances in the getting started section, as a "debtor". Ideally you'd have used the "Purchases>Money out" section to enter an advance payment but this doesn't work unless you have an accounting period set up for the period to 31 December.

There are various other ways to deal with this but you are better off asking for support to help you as they can login to suggest the best solution.

Ok thank you Paul.

It will take a little while to get to grips with it. Its a learning curve. I will contact spport as you suggest.

Kind regards.

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