Results 1 to 2 of 2

Thread: Correcting mistakes in Pastel V11 cashbooks

  1. #1
    Full Member
    Join Date
    Jul 2011
    Location
    Western Cape
    Posts
    29
    Thanks
    12
    Thanked 0 Times in 0 Posts

    Correcting mistakes in Pastel V11 cashbooks

    Hi

    I made some mistakes in last months cashbook, claimed VAT where should not have.
    If I do a journal entry to correct the wrong entry do I do the entry in April or in May?
    And will my Tax box balance after I do the journal?
    Thank you,

    V

  2. #2
    Platinum Member Mike C's Avatar
    Join Date
    Apr 2012
    Location
    Durban
    Posts
    2,240
    Thanks
    207
    Thanked 310 Times in 268 Posts
    Hi Vinruby - If you have already submitted your VAT return, then it is best to do the correction in May.

    If, however you have not submitted it as yet, it is ok to do the correction in April.

    Rather than doing a journal entry, you can reverse your entry by using the same date and exact information in your cash book and then making it a minus amount.
    Correct it then, using the same date, but by putting in the correct details and VAT code.
    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

  3. Thank given for this post:

    Dave A (24-May-13), Vinruby (27-May-13)

Similar Threads

  1. Pastel Partner - No Tax type chosen in Cashbooks
    By CourtneyC in forum Accounting Forum
    Replies: 2
    Last Post: 10-Oct-12, 09:31 AM
  2. Replies: 2
    Last Post: 14-Apr-11, 11:22 AM
  3. We are going to pay for Eskom's mistakes
    By Dave A in forum Business Finance Forum
    Replies: 5
    Last Post: 01-May-08, 09:56 PM
  4. Learn from your mistakes
    By Dave A in forum General Business Forum
    Replies: 1
    Last Post: 15-Dec-06, 08:03 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •