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My P&L with (2220 being the chart Of A) is an expense - yet all its contents figures should be Capital costs - went to new building - How do I reverse this and send to Balance sheet??

 
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My P&L with (2220 being the chart Of A) is an expense - yet all its contents figures should be Capital costs - went to new building - How do I reverse this and send to Balance sheet??

Hi MACE1, 

 

The best way to manage this would depend on if you want just those specific transactions to be moved to a Balance Sheet account, or if you want the entire account to show up on the Balance Sheet instead. The account type that is selected in the Chart of Accounts determines which reports it would show up on - if you want to edit the account that these transactions are in to show on the Balance Sheet, you can change it to a different account type that is not listed as an Income, Expense or Cost of Sales account by going to the Chart of Accounts page, clicking on the down arrow next to Run Report and then selecting Edit, and then change the account and detail types accordingly. If you want to adjust the transactions themselves to move them to a different account, then you will either need to open up the transactions directly and update them to select the correct account to allocate the transaction to, or if the were added from the Banking screen you can Undo them from the Reviewed tab and then modify them to select the correct account when adding them in again. 

To Undo bank transactions that have been added from Banking: 

  1. Go to the Banking tab on the left of the page
  2. Click on Reviewed
  3. Tick any transactions that were added or matched incorrectly in the check box on the left column
  4. Click the white Undo button above the Date column

This will move the transactions back into the For Review tab, where you will be able to modify them and assign them to the correct account. If you have any further questions about this, you're welcome to reply in this thread, or give us a call on 1800 046 038 and our support team will be happy to assist you over the phone. 

 

-Lucas