Making a Debtor Adjustment
Debtor Adjustments are typically used to write off or adjustment the outstanding balance on a debtor account. They do not affect the source transactions that constitute that balance.
You can only make debtor adjustments on unallocated transactions.
There are several types of debtor adjustment you can make:
Adjustment Type |
Description |
Small Balance |
This adjustment type is used for automatically created minor rounding adjustments. |
Write Off |
Used to write off an amount of the outstanding balance. |
Correction |
A correction. |
Opening Balance |
Used for a new account with an inherited opening balance. |
Journal |
A Journal transaction. |
Retention |
For retention payments, typically in Job Costing, where your client has withheld payment, pending achievement of a milestone. This retention is held in your Debtors Retention account and shown as an asset (or more properly a 'contingent' asset) on your balance sheet. |
-
In the Debtor Transactions tab, highlight the required unallocated transaction for which you want to make an adjustment.
-
Right-click and select Journal. The Debtors Adjustment Entry window is displayed.
-
Use the following table to enter details of the adjustment:
Fields
Description
Date
The Date of the adjustment you are creating.
Amount
Enter the amount of the adjustment you are creating, not the amount you want the revised total to be.
Invoice No
The invoice number against which you are making this adjustment.
Type
The adjustment type.
Age
The age of the current period. Display only.
Period
The current period. Display only.
GST
The GST code to be used on this adjustment.
Details
A description of the adjustment you are creating.
GL Code
The GL adjustments account.
Analysis Codes
Enter any Analysis Codes.
-
Click OK.
You can review any adjustments made by viewing the Debtors Adjustment Listing report: Reports > Debtors Reports > Debtors Adjustment Report.