Question
How do I deallocate a Sales Ledger transaction in the Express Posting screen?
Answer
You can now deallocate a paid invoice using the Express Posting screen.
Within the exception handling screen in the Sales Ledger and Purchase Ledger tabs, a drop-down has been added called ‘Allocate To’ where you can select outstanding transactions options to allocate transactions and pay invoices or select the Accounts option to allocate to an account and create an unallocated receipt or payment.
By default, the Outstanding Transaction option will be selected upon opening the Exception Handling screen.
When allocating a payment entry within the Sales Ledger another option called ‘Paid Transactions’ will be displayed in the ‘Allocate To’ dropdown. This will not apply to receipt, invoice or credit note entries.
This option will display all paid values available to deallocate 3 months prior to the banking date. If the user would like to search for transactions further than the 3 month period, a date can be entered and this will display all paid transactions 3 months before the date entered.
Once a transaction has been selected using the checkboxes, a pop up will display to deallocate the invoice.
Once the payment deallocation entry has been processed, the normal deallocation process will be completed.
Once this is done a transaction with a category of the invoice will be created. This ‘invoice’ will inherit all of the same details as the original invoice including the invoice document and transaction location. However, the posting will be similar to a reversal where we debit the Sales Ledger debtor nominal and credit the bank nominal. If the original transaction has a payment reference, this will be removed and placed on the transaction created through the deallocation routine.
A narrative on the original transaction will be displayed specifying the payment reference has been removed as part o the deallocation routine.
You can select multiple invoices to deallocate and can also allocate outstanding transactions in the other ledgers to pay similar to the remaining exception handling screen.