User Support Forum

I recently printed for the first time our quarterly income and expense report for our quarterly business meeting. I noticed that our Property Tax payment does not show on the report. When I entered the transaction I chose a fund in Liability instead of expense. I need to either edit the transaction to move it to a expense fund or find a way to show the liability on the Income and Expense Statement.

CrossroadsBapt wrote:I recently printed for the first time our quarterly income and expense report for our quarterly business meeting. I noticed that our Property Tax payment does not show on the report. When I entered the transaction I chose a fund in Liability instead of expense. I need to either edit the transaction to move it to a expense fund or find a way to show the liability on the Income and Expense Statement.

What you should do to keep an audit trail of what is going on is this:

1. VOID the existing check in Accounts Payable.
2. Create a MANUAL check using the same CHECK number, but with the correct accounts.
3. Post everything to the paid file, and Funds Accounting.

The system will create the proper transaction to void the first check and reverse that transaction, and then properly enter the correct transaction to debit & credit the proper accounts.

Through each step enter the exact reason this is being done in the notes section of the transactions.