Hi - My VAT suspense account is showing an accumilated negative balance. this should be 0.00 when reconciled isn't it? the reason been - when I record payment for VAT , it doesn't record it from the actual bank account the money has gone out from. so I need to record anothe payment out from the bank account it self to clear bank transactions. this creates duplicate entries on VAT suspense account. how do I solve this?
What you need to do is delete any duplicate payments, when recording the VAT payment from the VAT center there is a drop-down field to choose the payment account. As long as you are selecting the correct bank account then it will be fine.