I have receipted the incorrect amount onto a sales ledger account, how do I correct?

If you have posted an incorrect receipt amount to a sales ledger account (e.g., posting £690 when it should have been £790), follow the steps below to reverse and correct it.

Steps to Correct the Receipt

1. Reverse the Incorrect Receipt:

   • Navigate to Sales Ledger > Receipt.
   • Enter the exact value of the incorrect receipt (e.g., £690), but as a negative value (e.g., -£690).
   • Press Allocate Cash.

2. Post the Reversal:

   • After allocating the negative receipt, press Post and then Complete Batch.

3. This will create a reversal of the incorrect receipt on the account.

3. Verify the Account:
   • Check the sales ledger account to ensure the original receipt and its reversal are present. These should cancel each other out.

4. Post the Correct Receipt:
   • Navigate back to Sales Ledger > Receipt.
   • Enter the correct receipt amount (e.g., £790).
   • Allocate the cash as usual and complete the posting process.

Outcome

After following these steps:

• The incorrect receipt will be reversed.
• The correct receipt will be posted.
• The sales ledger account will display accurate financial records.