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Using TurboCASH

 







EDIT BATCHES (JOURNALS)
REVERSE THE TRANSACTIONS IN A BATCH (JOURNAL)
  
Once a batch have been posted or updated to the ledger with the amounts in the incorrect column (e.g. in the debit column instead of the credit column), this error will not be revealed by the trial balance. This is called errors of reverse posting.

TurboCASH allows you to check and edit the entries in a batch before posting or updating the transactions to the ledger. It is good practice to list the transactions in a batch and check your data thoroughly before posting a batch.

This option allows you to transfer the transaction amounts as entered into the debit columns to the credit columns and visa versa for an unposted batch. This option should be used with utmost care and only if you have entered amounts in the incorrect side debit instead of credit and visa versa.

 

To Reverse Transactions in an unposted Batch:
In the following example, the amounts for the transactions in the Payments Journal (Batch type), was incorrectly entered in the credit column in stead of the debit column. The Batch entry screen for the Payments Journal will display the incorrect transactions as follows:

Title bar. Title bar. The Alias for the selected batch. Title bar - double-click to display the screen in full size or to return to the normal size. Minimise button - inactive. Restore button - click to display this screen to full size and click again to restore it to its original size. Close button - Click to close or exit this screen. Click to delete a selected transaction. Click to insert a row or line above a selected transaction. Click to balance the batch, if the batch is not already in balance. Click to post or update the transactions to the ledger, if the batch is in balance. Click to enter transactions Inclusive or Exclusive of VAT. Click to list the entries or transactions entered into the batch. Click to access more processing options for the batch. Click to set the Options for this batch. Enter the document or reference number for the transaction in this column. Enter or select the date of the transaction in this column. Enter a description for the transaction. Select the General Ledger or Creditor Account. Select a valid Tax (Input VAT) Account, if you are registered for VAT and VAT is applicable to the transactions. Enter the debit amounts for General Ledger or Creditor Accounts. If any amounts are entered in the incorrect column, you may reverse the transactions. Scroll bar - scroll to view more transactions entered in the batch. TurboCASH generates the balancing entries to the selected Contra account. Balancing entries will also be created for each selected Tax code or account.

Should this batch be posted or updated to the ledger, the expenses will incorrectly be credited and the bank account incorrectly debited. TurboCASH allows us to correct this with a few mouse clicks.

Right-click on the selected batch (journal) on the Batch Type Selection screen and select the Reverse Batch option on the Context menu; or -
Click on the speed button or icon or press the key on your keyboard.
Select the Reverse Batch option and click on the button. TurboCASH will transfer the amounts entered in the credit columns and transfer all the amounts to the debit column. If the batch was balanced, TurboCASH will also transfer the Balancing Amount to the correct column (e.g. credit column).

Title bar. Title bar. The Alias for the selected batch. Title bar - double-click to display the screen in full size or to return to the normal size. Minimise button - inactive. Restore button - click to display this screen to full size and click again to restore it to its original size. Close button - Click to close or exit this screen. Click to delete a selected transaction. Click to insert a row or line above a selected transaction. Click to balance the batch, if the batch is not already in balance. Click to post or update the transactions to the ledger, if the batch is in balance. Click to enter transactions Inclusive or Exclusive of VAT. Click to list the entries or transactions entered into the batch. Click to access more processing options for the batch. Click to set the Options for this batch. Enter the document or reference number for the transaction in this column. Enter or select the date of the transaction in this column. Enter a description for the transaction. Select the General Ledger or Creditor Account. Select a valid Tax (Input VAT) Account, if you are registered for VAT and VAT is applicable to the transactions. Enter the debit amounts for General Ledger or Creditor Accounts. If any amounts are entered in the incorrect column, you may reverse the transactions. Scroll bar - scroll to view more transactions entered in the batch. TurboCASH generates the balancing entries to the selected Contra account. Balancing entries will also be created for each selected Tax code or account.

Should this corrected batch be posted or updated to the ledger, the expenses will correctly be debited and the bank account correctly credited.

The following is a list indicating whether amounts of transactions for a specific batch type should be entered in the debit or credit columns in a batch entry screen:

Batch Type Debit / Credit Amount Entry
Sales Journal Debit
Sales Returns Journal (Debtor Allowances Journal) Credit
Purchase Journal Credit
Purchase Returns Journal (Creditor Allowances Journal) Debit
Receipts Journal Credit
Payments Journal Debit
General Journal Both Debit and Credit.


Once a batch is posted of which the transactions have been entered in the incorrect amount columns (debits as credits and visa versa), you need to:
  1. Enter the transactions in another batch or journal to cancel the transactions, which is incorrectly posted or updated to the ledger.

  2. Enter the transactions again to record the original transactions and post or update it to the ledger.