Sage Pastel • Processing a Cashbook reversal in Sage50 Pastel Partner and Xpress

Sage Pastel • Processing a Cashbook reversal in Sage50 Pastel Partner and Xpress

Processing a cashbook reversal in Pastel

Processing a cashbook reversal in Pastel

Reversing mistakes in Sage50 Cloud, Pastel Partner, and Pastel Xpress programme

The best way to reverse a cashbook transaction is to process the transaction the exact same way that you processed it in the first place.
And ALWAYS use the same side of the cashbook as your original transaction.

 

This only applies to a cash book entry/s that has been updated already

Make a backup before you begin !!

Select Process... Cashbook... Process Cashbooks (for newer versions of Pastel)
Choose the same side of the cash book that you put through the original entry

Reversing a payment

Reversing a Journal in Pastel

  • Use the same period, same date, same account, same reference, same tax (if applicable) as you did on the incorrect transaction
    EXCEPT...
  • When entering the amount, use a negative sign before the amount i.e -1000.00

Reversing a receipt

Reversing a Journal in Pastel

  • Use the same period, same date, same account, same reference, same tax (if applicable) as you did on the incorrect transaction
    EXCEPT...
  • When entering the amount, use a negative sign before the amount i.e -1000.00

If this entry was only to reverse an incorrect entry and does not need to be re-entered correctly, then at this point, once you have processed the reversal/s, you select the Update button.

Recapturing the correct entry

If you now need to recapture the original and correct entry, which is usually the case, then you need to enter a second line underneath the negative line entry.

  • This time use the correct period, correct date, correct account, same reference, same tax (if applicable) as you did on the original incorrect transaction
  • Enter the correct amount, (without a negative sign before the amount) i.e 1000.00

Are there any other ideas or information you think can be added to this article to make it more useful to people?

Comments ( 32 )

  • Shaye

    After doing the above – I ran my VAT tax type report and I see that the first entry that I reversed to correct the VAT claimed is still showing up on the Tax Type Report as an input and now to pass a journal I only have 1 leg and don’t know how to correct this VAT on the Tax type report. Please assist?

    • Hi Shaye,
      1. The entry that you originally created will not disappear off the report, for auditing purposes. It will still be input tax.
      2. After that, there will be the entry that was for the reversal of that entry, which cancels that tax.
      3. And a third entry for the correct tax.
      There should be 3 entries you can see on the tax report.

      Also, the entries should be showing on the cash book report, which is an easier report to read, especially if you are using the tax manager feature, which closes off the previous month’s work.

      You can come back to me if I’m not understanding your question.
      Bev

  • Zahida

    Hi, i am new to pastel.
    I have been advised by an ex employee to do cashbook reversals & re-allocating via a general journal, but now after reading all this, I gather that this would be incorrect? Should reversals & re-allocations only be done on cashbook?

    • Hello Zahida,

      You would be correct. If you do the reversals via a journal those entries will not show up in the bank recon at all. And they will (still) update the balances, making you confused as to why the bank balance if out.
      Keep to the cash books.

      Bev

  • Vatti Van Zyl

    Good day,

    I’m also new to pastel and I was busy with the cashbook but I updated it to finish my bank statement later to edit/add. Can it be done?

    • Hi Vatti,
      Yes, you can carry on adding more to the cash book anytime, and if you close the cash book your work will still be there when you come back.
      You can also update each time you have captured a section ie. you want the customer’s payments to be showing on their statements immediately.
      When the month is finished, or you have finished capturing the bank statement then you can do your bank reconciliation.
      You won’t lose your work.
      Hope this helps
      Bev

  • Verina simons

    Afternoon

    I would like to know if there is a way to change a description in Pastel Pervasive in the cash book already posted

    • Hi Verina,

      After the update, the batch splits up into the various files.
      The transaction, the open item file, the master files, and others.

      If you start changing things in Pervasive, you could corrupt one of them.
      This is why Sage will strongly advise you to stay clear of this option.

      If anyone makes changes in the background, the time stamp would alter, and the audit trail would detect this.
      Its also illegal, as you are now changing an accounting system, and auditors would go crazy if they found out.

      So, my answer is no.
      Hope this helps
      Bev

  • Chantel

    Hi I am so nervous, i followed all instructions but it still gives me incorrect amounts, i don’t know what I’m doing wrong.
    Example: Electricity supposed to be R1000.00 and it gave me an amount of (869.57) on my income statement. I’m so stressed.

    • Hi Chantel,

      In the original entry, did you put VAT onto the electricity?
      Maybe the first time you did NOT put VAT on, so it came out at R1000.

      And this time, did you put VAT onto the entry?
      It sounds like you did, so you have come out at R869.57.

      Please email me [email protected] so that I can help you.
      Send me your contact details.

      Bev

  • Rochelle

    Hi ,
    I have captured and updated my bank statement but missed out one suppliers discount and now it reflects that I am owing but it is the discount . How can I correct to show the discount

    Thank you

    • Hi,
      You only need to open the cash book, and enter the Supplier, reference, description, etc, and tab straight across to the discount column, and put in the amount.
      This will open the open item screen to allocate the discount.

      Regards
      Bev

  • Kelvin Maswili Mwanzia

    Hello

    Have a question about reversing a supplier cash book payment.
    Can i reverse the payment for S NOT G

    • Hi Kelvin,

      You DO need to reverse the supplier. Use the S again, and in the bank column use a minus -sign before the amount. This will reverse the entry in the correct way.

      Regards
      bev

  • Marina

    Hi, I had a bank account that was closed. I created a cash book for this account but no longer needs it. How do I remove this from my lists of cash books and all together from Pastel?

    • Hello Marina,

      Click on setup…
      Entry types…

      on the line of that cash book…
      payments line…
      tab to the cash book column…
      Click on the pull-down menu arrow…
      scroll right down to the very last cash book number…
      click on remove cash book.

      This will unlink to the cash book.
      Then save

      You can now delete the cash book if you have never used it.

      Hope this helps,
      Bev

  • Wilson Lungu

    Hi there,

    Please help me how to reverse over-reversed foreign currency transferred from home currency cashbook in sage 50c pastel.

    I have USD $2,075,000 more than it should be and currecny variance is over
    Zambian K wacha 42,600,000

    Please help me.

    Regards.

    Wilson

    • Hello Wilson,

      The article that you read is still the way you reverse a foreign currency entry.
      You have to reverse everything using the same information you entered it with, and you must use the same exchange rate that you used on that day you first captured it. Don’t forget the minus signs.

      if you have captured this line 1… 2… 3… 4… times incorrectly, then you need to reverse each of those lines again.
      It will reverse the currency variance account, as per that amount and that day’s exchange rate amount – so that you are back to scratch.

      Then you can do the proper entry correctly this time, and this should correct the currency account and cash book.
      It cannot be done in a journal, only a cash book.

      Bev

  • Masego

    Hi I mistakenly updated my cashbook and i cant see the transactions on my cash book as a result and I need to fix the date and adjust for vat in those transactions. Is there anyway i can bring back the transactions to the cashbook again?

    • Hi there
      Not good news. Sorry for that.
      There is no way to bring the batch back.
      You need to reverse the entries and then redo them,
      Regards
      Bev

  • Martha

    Hai.
    How do I clear a debit balance on a customer account following a wrong cash discount allowed entry which is not affecting the cash received. Do I use the VAt account to clear it?

    • No,
      You fix the discount, in the discount column, in the cash book, by putting in the entry again, (Leave the bank amount off) go straight to the discount column.
      Put a -minus sign in front of the discount amount you first entered. You can then update this.
      Then again, put in the corrected discount amount only, in the discount column. And update.
      The vat will be correct, and if you have used the identical reference number it will only show a single line on the statement.
      Please let me know who it went.
      Bev

  • Candis

    I updated my cash book but have several corrections is there any way i can reverse the update

    • Hi.
      There is no way to reverse the update other than using a backup to restore the data.
      This will go back in time, but it also wipes out any work that has been done after the backup – which you would need to redo.
      Its like a time-machine – you go back in time. If you don’t have a backup to restore, then you have to manually reverse each incorrect entry.
      Hope this answers your question.

  • Wendy

    Hi I allocated receipts in wrong cash book, I reversed these entries using the –
    but now the receipts are showing on customer statement and I need to enter them in correct cash book as my bank recon is showing in balance but difference is the amount I entered in wrong casbook

    • Hi Wendy.
      If you reversed the entries, in the same cash book they were first captured in, and you used the identical reference number then they won’t show on the customer statement but will show on a detailed ledger for your records.
      Then you could go to the correct cash book, and enter them there, and they will show correctly, on the statement, and the bank recons will be correct.
      Bev

  • GOTLHE

    can i do bank reconciliation after doing some reversals in the cashbook

    • Yes, you must reconcile all changes you make to the cashbook.

  • Venilla

    Hello

    Do I unallocated the payments first before doing the reversal?

    • Hi,
      No, it’s not necessary.
      You can still see the amount in the recon.

  • Elisha

    Hello i processed a transfer in my cash book eg transfer from bank 1 of 100 to bank 2 but what i did is actually vice versa of what i was supposed to do. Please assist

    • Hi,
      You need to redo the transfer to bank 2 and transfer the money back, by using a minus sign in front of the amount.
      On the payments side still.
      And update this and check that your recon is back to normal.

      Then you can do the entry correctly, from bank 2 to bank 1.

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