Edit a supplier payment

These payments constitute a bank reconciliation, indicated by ticks in the reconciled column of your bank activity.

Editing transaction details within the bank-reconciled period won't affect reconciliation status if the date remains unchanged.

If you change a transaction by changing the Bank account, Amount, or Date to a date later than the end date of the reconciliation, the transaction shows as no longer reconciled. For example, if the reconciliation end date is July 31st, and you change the transaction date to August 5th, the transaction becomes unreconciled.

Follow an example

The closing balance from your last statement was €1000.
You enter a payment for €500 and reconcile it. Your bank account balance and your reconciled balance are now €500.
After finishing the bank reconciliation, you realize that you entered the payment with the wrong amount. The payment shows as €400.
You go to the bank activity and edit the payment.
Your bank balance is now €600, but your reconciled balance is €500.
When you open the completed reconciliation, the payment shows as Removed from reconciliation in the Corrected Transaction column.
To make sure your reconciled balance matches your bank statement, you reconcile the edited transaction.
The Starting Balance is now €1000 due to the €500 dedution. You reconcile the edited payment. This updates your closing balance to €600.

You're now ready to reconcile your next statement as usual.

Audit trail and reports

When you edit a transaction, we reverse the original transaction and create a new one with a new transaction number. Apart from the audit trail, only the new transaction shows on your reports.

How this shows on the audit trail

For all unreconciled transactions

The original transaction shows with a line through to show it's reversed
We create a new transaction with the updated details and a new transaction number

For reconciled payments

We create a new transaction to reverse the original. This has a type of Correction
We create a new transaction with the updated details and a new transaction number

Edit a payment

From Banking, open the relevant bank account.
From the Bank Activity tab, open the payment to edit.
Change the bank account, method, date, reference, and amount as required. You can't change the supplier.
If you change the amount and the payment allocated, select the edit icon in the Paid column. The Part Pay window opens. Adjust the Amount to Pay or Discount as required.
Save your changes.

Reconcile again

Re-reconcile payments if bank account, amount, or date change, surpassing the reconciliation end date.

When you open the reconciliation page, you'll see the edited transaction with a Corrected label in the Corrections column.

Reconcile an edited payment

From Banking, open the bank account you want to reconcile.
Choose the Reconcile link.
Check the Statement End Date. Make sure this is the same as or later than the date of the edited payment.
Verify the Starting Balance; editing payments can increase it. For example, if it was €500, editing a €500 payment doubles it.
The edited payment shows as 'Corrected' in the Corrected Transactions column. To reconcile it, mark the checkbox in the Reconciled column.

For instance, if you modify the amount to €400, the receipt will no longer reconciled, so the starting balance becomes €500. To reconcile the edited payment, input €900 as the new Statement End Balance. This combines the starting balance of €500 with the edited payment of €400.
Confirm the Reconciled balance is now correct, and that the difference is zero.
Select Finish.

The starting balance of your next reconciliation will now be correct.

Edit a recurring payment

Edit the most recent payment. Identify this by the recurring symbol .

From Banking, open the bank account used for the original receipt.
From the Activity tab, open the most recent transaction.
Edit the receipt and Save.

We create a new receipt with the updated details on the next repeat date. Previous recurring payments remain the same.

Reverse a payment

Reverse a payment If you use the Cash Basis scheme, and the payment shows on a submitted VAT return.

This clears the value from your supplier account and bank account and updates the VAT return. Enter a new payment with the correct details.

If you haven't yet sent the VAT return to Revenue, just delete the draft VAT return. Then you can edit the payment as normal.

Unallocate the payment

Before you reverse the payment, make sure you remove the link to any invoices it's paying.

The invoices are now outstanding and ready to allocate to another payment where required.

The payment is now ready to allocate to the refund.

Open the payment from the Bank Activity.
Clear the tick box from all the invoices allocated to the payment.
Choose Save and select Yes to save as a Payment on Account. This takes you back to the Bank Activity.

Next, create a refund to reverse the payment.

Create a refund with the same details as the payment

The refund is the opposite transaction of a payment, so the two transactions cancel each other out. Allocate them to each other so you know you used the refund to reverse the payment.

Select New Entry, then Sale / Receipt.
Select Supplier Refund.
Enter the supplier, bank account, payment method, date and amount. This must be the same details as the original payment.
The original payment is now outstanding so you can allocate it to the refund. Select the check box next to the original payment.

This makes sure you can track when you have made corrections.
Save the refund.

The refund updates your bank balance, cancelling out the payment. The refund shows on the next VAT return, cancelling out the value of the payment.

Next, create a new payment with the correct bank account, date, amount or supplier.

Enter a new payment with the correct details

If required, create a new payment with the correct date, amount, bank account or supplier.

From Banking, open the relevant bank account.
Select New Entry, then Purchase / Payment.
Select the Supplier Payment tab. Enter the details of the new payment.
Tick the checkbox next to the relevant invoices for allocation of the new payment.
Save the payment.

The new payment and the refund will show on your next VAT return.

The refund and the new payment show in the bank activity.

The refund and new payment show on the next bank reconciliation. We recommend that you reconcile the refund and the new payment straight away. This makes sure the starting balance is correct on the next bank reconciliation.

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How this works

Reconciled payments