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Nanako

Bankfeed. I entered annual bank fee 2 times. How to fix it?

SOLVED
Posted By

Hi.

Its my first month of using sage 50.

I made some error but I do not know how to fix it:(

I had a annual fee for credit card on my credit card,$60.00

I am using bankfeed,SInce there is a transaction of this $60.00 when I downloaded transactions,I created transaction of it.(I posted it on credit card fee account)

Then When I pay my creditcard bill later day,I had to put any bankfee or interest,So I add this $60.00 and posted. (Automatically it  went to bank interest account) 

...I realized that it means I posted annual fee 2 times on my sage.

Seems creditcard bill transaction is not able to adjust after posted.

So it means I have to cancel $60.00 on credit card fee account.  But I am not sure if its right things to do,and How to adjust it.

Also $60.00 on creditcard bill went to wrong account. I guess it has to be into credit card fee account.

How I should adjust it?  Please:)

Top Replies

Parents
  • +1
    verified answer

    Hi Nakako, 

    Please see the below resource:

    How to manually reverse a payment? NSF pmt etc

    10617

    In particular, the below may apply:

    Method I: Reverse Vendor payment

    1. In the Home window, under the Payables (Vendors & Purchases) module, click on Payments
    2. In the To the order of drop-down box, select the vendor for whom you need to reverse the payment.
    3. You will need to show fully paid invoices by clicking on the menu Payment, and Include Fully Paid Invoices/Prepayments if the invoice was paid in full
    4. Change the Paid By box to Cash
    5. Change the From box to select the correct account in which to record the reversal
    6. Add info to the receipt number (i.e. NSF, stale-dated, reversed, void,...)
    7. Change the date to the date your bank reversed the payment
    8. In the Payment Amount column, enter the amount as a negative on the line where the invoice appears
    9. Enter any Comment you may want to include
    10. Click Process / Post
    Warm Regards, 
    Erzsi
Reply
  • +1
    verified answer

    Hi Nakako, 

    Please see the below resource:

    How to manually reverse a payment? NSF pmt etc

    10617

    In particular, the below may apply:

    Method I: Reverse Vendor payment

    1. In the Home window, under the Payables (Vendors & Purchases) module, click on Payments
    2. In the To the order of drop-down box, select the vendor for whom you need to reverse the payment.
    3. You will need to show fully paid invoices by clicking on the menu Payment, and Include Fully Paid Invoices/Prepayments if the invoice was paid in full
    4. Change the Paid By box to Cash
    5. Change the From box to select the correct account in which to record the reversal
    6. Add info to the receipt number (i.e. NSF, stale-dated, reversed, void,...)
    7. Change the date to the date your bank reversed the payment
    8. In the Payment Amount column, enter the amount as a negative on the line where the invoice appears
    9. Enter any Comment you may want to include
    10. Click Process / Post
    Warm Regards, 
    Erzsi
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