Correcting transactions in Sage Accounts
This helps you in making amendments: Reverse, Delete or Edit Transactions in Sage Accounts. The only point is that the transactions can’t be reversed on its own or automatically. You have to do it manually.
If you are into using Foreign Trader or VAT Cash Accounting and you make amendments, it is subjected to certain restrictions.
The Scenario of Correction of Transaction
Any audit trail in the transaction is made up of Non-Critical and Critical Fields. It generates certain postings when any transaction is corrected depending upon the transaction status whether you amend it or not.
Here is the list of Critical and Non-Critical Fields
|Critical fields||Bank, Bank A/C, Date, Net, Exchange and Tax Rate, N/C (Nominal Code) and Tax Code (T/C)
· Foreign Traders – The Exchange rate is only amended on foreign currency and transaction.
· V21 Sage Accounts and Below – Critical Fields can’t be edited in Journals.
|Non-critical fields||Reference, Department and Details. Example: Bank Rec. Date and Bank Reconciled Flag.|
To make corrections in Critical Fields
- It takes original detail to make a new deleted transaction.
- The Amended Transaction accompanies the original transactions.
- If you use VAT Reconciled Transaction to amend any critical field, a new transaction will be posted to reverse the outcome of the first transaction (it can be original transaction). There can be some other transactions with complete and authentic details.
To make corrections in Non-Critical Fields
No new transaction will be created. Instead, certain changes will be made in the original Transaction.
To make changes in the transaction
- Go to the navigation bar, select Transaction. Now, to make changes in the transaction, click on the transaction. Now, select Edit.
Note: For Sage 50 V24.2 and superior versions, you can use activity window to edit the transaction.
- Here, you need to edit the details of the item line. Go to the Details of Item Line –> Click on the item you want to edit and then select Edit.
- Now is the turn of Payment Allocation Reference. Click on the item you want to edit, make changes in the payment ref and then select close.
- Now, select the Close button and then select Save. Finally, Click on Yes.
For the Transaction that is non-allocated: V22 and above
You can easily use non-allocate Purchase and Sales Transaction for Sage V22 and above. These transactions can be allocated altogether. Use activity windows, to unallocate any transaction in Sage V24.2 and above.
Now, select the transaction. To unallocate it, click on the transaction. Click on the unallocate button and then select yes.
To know more about correcting transactions in Sage Accounts, you can connect with our technical support team via various modes of connectivity that we have made available for the convenience of you. Our website has all the details related to Sage Accounts Transaction Correction. Visit our website www.accountingadvice.co and find all there. Else, here are our connectivity channels, using any of these, you can get in touch with our Technical Expert. Call us on our Toll-Free Number +1800-961-4623, Sage Chat Support at your service on our website.
Report Your Issue
(Didn't find what you were looking for! Report your issue and get customized help from our Sage experts.)