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Thread: Pastel Express 2011 - Reversing / Re-allocating receipts

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    Pastel Express 2011 - Reversing / Re-allocating receipts

    Hi All,

    It is great ot have found a forum like this. I am hoping for some assistance with Pastel Express 2011.

    This is what I did, please advise how to correct: I went to Process -> Cash Book -> Receipts, entered an amount and allocated it to three invoices. After Updating, I discovered that my allocations were incorrect. What is the best way to correct this? Two approaches seem viable but I don't know how to do it:
    1) Unallocate receipt then Match Open Item.
    2) Journal receipt and recapture.

    Thanks in advance,
    SD

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    Platinum Member Neville Bailey's Avatar
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    Hi SD,

    A good rule of thumb to follow, when incorrect entries need to be reversed, is to re-process the entry exactly as you did originally, but with a minus sign in front of the amount.

    In other words, you need to recapture those incorrect receipts, in the cashbook receipts journal, with the same dates, references, customer account codes, but with a minus sign in front of the amount. Then process the cashbook receipts correctly, using the same references (this is important so that the original entry, reversal entry and revised entry get consolidated in your bank reconciliation and in your customer statement).

    If you are using open item matching, then you can go to Process...Match Open Item and unallocate the original receipt in the customer account that was incorrectly credited.
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
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    View Neville Bailey Photography

    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

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    Much appreciated

    Thanks for your advice. I am using open item allocation, so method 1 was out the window. It turns out I was operating the Match Open Item window incorrectly. I learned to use Pastel before they changed to the 200x naming convention, and only upgraded because Pastel 4 no longer ran on my PC. As such, I didn't know that Pastel's interpretation of drag & drop had become a reality. All the double-clicking and right-clicking did not help me.

    I thought I was in the right place, just took a while to figure out the click, move, drop story.

    Regards,
    SD

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    I made a huge mistake on my pastel xpress. I linked a payment in my cashbook to the wrong client.
    Pleeeaaasssseeee help! I am quite new to pastel and don't know how to fix this in the right way.

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    Platinum Member Neville Bailey's Avatar
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    Quote Originally Posted by Loumari Rootman View Post
    I made a huge mistake on my pastel xpress. I linked a payment in my cashbook to the wrong client.
    Pleeeaaasssseeee help! I am quite new to pastel and don't know how to fix this in the right way.
    I suggest that you follow the procedure that I outlined in my post earlier in this thread, but substitute "receipts" with "payments".
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
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    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

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    Hi,

    I have recently started a new position at a company, the previous person has made allocation errors from 2011. How can I reallocate these? With match open item I can only get back to December 2012.

    Thanks,
    Wikus

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    I have just captured our bank statement. I put the rent to the incorrect account. I have already updated and batched. Where do I go to undo this ? I need to post it to another account and not sure on the steps to follow Thanks all

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    Platinum Member Mike C's Avatar
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    Hi Fay - Neville has explained how to do this very well under post #2 below. If it does not make sense, then please tell us where you are stuck.
    An education isn't how much you have committed to memory, or even how much you know. It's being able to differentiate between what you do know and what you don't. - Anatole France

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    Hi Neville, ok......... I understand the above, there's a first Are you saying that in the Process, cash book, receipts ..... i just go and enter it all, same details just put a minus in front of the amount. Does it matter that the date is 09/02/2015 and I am "fixing" an allocation from beginning Jan ?? My mind keeps telling me these dates have to run consecutively ???

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    Platinum Member Neville Bailey's Avatar
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    Quote Originally Posted by Fay View Post
    Does it matter that the date is 09/02/2015 and I am "fixing" an allocation from beginning Jan ?? My mind keeps telling me these dates have to run consecutively ???
    You must capture the same date and period that you used in the original transaction - the system will automatically "sort" it chronologically. In other words, you do not have to ensure that the dates run consecutively. That's the beauty of running a multi-period system...
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
    www.accountingsoftwaresupport.co.za
    View Neville Bailey Photography

    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

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