Hi Yuvina,

Technical questions should be posted in our Support Community.  I will move your post to the Sage 50 CA (formerly Sage Simply Accounting) Support Group so that other users of this software will see your question and be able to offer their thoughts and insight.

Thanks,

Derek

Hi Yuvina

It seems to me that account 2460 is a linked account in the setup. You can only post to this account by posting with the appropriate journal. Account 2460 could be linked with Customers or Revenues Account journal, so post with Receits, and before clicking Post, check the  journal entry with Ctrl+J if it fits your needs.

Danielle

Yuvina,

Danielle is correct that the entry must be made through the customer accounts, however, IMO you would use "create invoice" not receipts as a receipt will post to a bank account or clearing account, which will then require another entry to clear it out.

Make a invoice, pay later, and post it to #5750, no taxes. Check the entry as Danielle indicated.

Verify your year end balances. Note that the prepaid account balance will not have changed, but if you total your Accounts Receivable (#1200?) and your #2460 Prepaid Sales, the sum must be the same as the same two accounts on the trial balance provided by the accountant.

If the change is intended to be permanent, ie, the new balance on the customer account(s) is/are correct, than you can use a receipt to apply the invoice to the existing overpayment on the customer account(s). If you do this, than #2460 should equal the accountant's number.

If the change is only an adjustment for year end, then on the first day of the next fiscal year, reverse the invoice and apply the new credit invoice to the adjusting positive invoice.

Thanks everyone for your replies - the deposit was in USD hence the exchange rate issue. I debited 2105 (A/P - Exchange) & credited 5750 (Realised exchange gain/loss) and this worked.