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ANSWER IDs: 9096, 9109, 9169

If the Company Data Auditor finds an out of balance, a red question markwill appear.  

Click Display to view a report to identify the transactions which may be causing the out of balance, then refer to the info below. See the AccountRight help for more information about the Company Data Auditor (Australia | New Zealand).

Learn more about reconciling your receivables and payables: 

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titleIf your receivables are out of balance

Referring to your Receivables Reconciliation Exceptions report, check the following:

What to look forPossible causeSolution
Wrong account used on a sale

The receivables linked account (sometimes called the Trade Debtors account) has been incorrectly used on a sale.

Remember to never post directly to your receivables linked account.

Reverse the sale and enter it again using the correct allocation account. This is typically an income account.
Wrong feature used to record a saleRecording a customer payment using Receive Money instead of Receive Payments.

Reverse the transaction and record it again using the correct feature.

If the payment relates to an invoice, record it using Receive paymentsPayments.

Incorrectly allocated journal entry

bad debt has been recorded using a journal entry allocated to the receivables linked account.

Remember to never post directly to the receivables linked account.

Reverse or delete the general journal entry, then create a new sale to account for the bad debt.
Finance charge errorDeleting only one side of a finance charge. A finance charge is made up of an invoice in the sales journal and a payment in the receipts journal. To delete a finance charge, first delete the finance charge payment then delete the finance charge invoice. See Finding and deleting or reversing a finance charge for more information.
Timing issue

A customer payment or credit may be dated earlier than the invoice to which it has been applied.

This will create a false out of balance.

Do nothing! This will correct itself in time.

Still out of balance?

Check the following:

  • The opening balance of your receivables linked account may have been changed. You might need to restore an early backup to check the account's original opening balance. If it's been changed, change it back to its original value.
  • The account you use as your receivables linked account may have been changed. Check by going to Setup menu > Linked Accounts > Sales Accounts, then check the Asset Account for Tracking Receivables. If this account has been changed:
    • change it back to the correct linked account
    • determine the value of sales which have been recorded while the wrong linked account was set (this is likely to be your out of balance amount)
    • record a journal entry to transfer this value from the wrong linked account to the correct linked account.
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titleIf your payables are out of balance

Referring to your Payables Reconciliation Exceptions report, check the following:

What to look forPossible causeSolution
Wrong account used on a purchase

The payables linked account (sometimes called the Trade Creditors account) has been incorrectly used on a purchase.

Remember to never post directly to your payables linked account.

Reverse the purchase and enter it again using the correct allocation account. This is typically an expense or cost of sales account.
Wrong feature used to record a purchaseRecording a bill payment using Spend Money instead of Pay Bills.

Reverse the transaction and record it again using the correct feature.

If the payment relates to a bill, record it using Pay Bills.

Incorrectly allocated journal entry

Recording a journal entry to allocate directly to the payables linked account.

Remember to never post directly to the payables linked account.

Reverse or delete the general journal entry. If it’s an adjustment, re-enter the transaction  as a negative purchase and settle it against the original bill.
Finance charge errorDeleting only one side of a finance charge. A finance charge is made up of a purchase in the purchases journal and a payment in the payments journal. To delete a finance charge, first delete the finance charge payment then delete the finance charge purchase. See Finding and deleting or reversing a finance charge for more information.
Timing issue

A payment or supplier credit may be dated earlier than the bill to which it has been applied.

This will create a false out of balance.

Do nothing! This will correct itself in time.

Still out of balance?

Check the following:

  • The opening balance of your payables linked account may have been changed. You might need to restore an early backup to check the account's original opening balance. If it's been changed, change it back to its original value.
  • The account you use as your payables linked account may have been changed. Check by going to Setup menu > Linked Accounts > Purchases Accounts, then check the Liability Account for Tracking Payables. If this account has been changed:
    • change it back to the correct linked account
    • determine the value of purchases which have been recorded while the wrong linked account was set (this is likely to be your out of balance amount)
    • record a journal entry to transfer this value from the wrong linked account to the correct linked account.
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titleIf your inventory is out of balance

Referring to your Inventory Value Reconciliation Exceptions report, check the following: 

What to look forPossible causeSolution
Wrong feature usedRecording an inventory adjustment using a journal entry instead of the Adjust Inventory feature.

Reverse the transaction and record it again using the correct feature.

Transactions allocated directly to the inventory asset account

Using the inventory asset account as the allocation account in a sale, purchase, spend Money, receive money or inventory adjustment transaction.

Reverse the transaction and record it again using the correct allocation account.
Incorrect linked accountsThe linked asset account for an inventory item has been incorrectly linked to an account other than your inventory asset account.Check the linked asset account for your items (Inventory > Items List > open the item > Profile tab > Asset Account for Item Inventory). If this account has been changed:
  • change it back to the correct linked account
  • determine the value of purchases which have been recorded while the wrong linked account was set (this is likely to be your out of balance amount)
  • record a journal entry to transfer this value from the wrong linked account to the correct linked account.

 

Learn more about reconciling your stock:

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titleRelated topics
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Backing up and restoring company files (Australia)

Backing up and restoring company files (New Zealand)

General journal entries

Finding and deleting or reversing a finance charge

Writing off bad debts