Fixing Errors - Contra-posting to correct a 'Normal' Hold File entry

Fixing Errors - Contra-posting to correct a 'Normal' Hold File entry

Info
This article is part of the Fixing Errors section.
Find all related articles here:


Introduction


You can’t amend the amount on Hold File entries, so if you have posted with an incorrect amount you will need to contra-post to correct.

Follow the below steps to create an equal but opposite posting to the Hold File, which you can then allocate off against your original charge to cancel it out. This will prevent the charge being processed through to the client Charge Files. 

Doing this will also means that the amount you are due to pay the PL Account will be counteracted.

Alert
Before you start:
  1. Make sure your original charge is at Normal status in the Hold File.
  2. Check the details of your original charge in the Hold File. You need to make sure the PL Account, dates, Development and Client/Apportionment are the same as your original charge when creating a contra-posting. To do this, select your charge from the grid and either double click, or click View or Amend in the action bar.

Creating a contra-posting


To create a contra-posting:
  1. Navigate to the Purchase Ledger tab.

  2. Click Transactions in the action bar at the bottom.



  3. When the Purchase Ledger Transactions window opens, enter the details for your contra-posting. Everything should match your original posting.

  4. Make sure you add a minus symbol, to post the equal but opposite amount.

  5. Select Hold File from the Post To dropdown.



  6. Once you are happy all your details are correct, click Post.

  7. If you have used the same invoice number as your original posting, you will be informed that this is a duplicate but you can click Yes to continue with the posting.

  8. A pop-up window will display the batch details, and you can click OK to dismiss.

Allocating your contra-posting against your original charge


Once your contra-posting has been created, you need to allocate it against the original charge in the Hold File so that neither will be processed through to the Charge File. 

To do this:
  1. Navigate to the Hold File tab.

  2. Use the filters to find your original charge, and your contra-posting so that they are both displayed in the grid at the same time. Tip – filter by Development.

  3. Select both charges by holding Ctrl and clicking on both entries. You can allocate multiple Hold File entries against one contra-posting, as long as they equal 0.00.

  4. With both entries selected, click Allocate in the action bar at the bottom.



  5. A pop-up window will confirm that the charges have been allocated. Click OK to dismiss.

  6. The status of your entries will now display as Ignored in the Hold File.

There will also be 2 entries in the Purchase Ledger, but these will cancel each other out.

You are now ready to re-post your charge with the correct details.

    • Related Articles

    • Fixing Errors - Contra-posting to correct an 'Allocated' Hold File entry

      This article is part of the Fixing Errors section. Find all related articles here: Fixing Errors Introduction You will need to follow a different process if you have posted to the Hold File with an incorrect amount, but your charge has since been ...

    • Fixing Errors - Reversing a posted Charge back to the Hold File

      This article is part of the Fixing Errors section. Find all related articles here Fixing Errors Introduction If you have made a mistake in a Hold File posting and then processed it to the Charge File, you can reverse this process and amend the ...

    • The Hold File – From Initial Review to Ready for Processing

      This article is part of the Hold File section. Find all related articles here: Hold File The Hold File is like a temporary holding area for all the purchase ledger invoices you've posted. These records won’t appear as charges on client accounts until ...

    • Understanding and Managing Hold File Statuses

      This article is part of the Hold File section. Find all related articles here: Hold File When working with the Hold File, each entry is assigned a status. These statuses help you understand how the entry is being handled and whether it can be ...

    • Processing the Hold File

      This article is part of the Hold File section. Find all related articles here: Hold File What Does "Processing the Hold File" Mean? Once you’ve posted contractor invoices to the Hold File (using the Purchase Ledger Transactions screen or the Post ...