Q: How To Match Bank Account Entries In Free Online Accounting Software?
I have two bank a/c entries related to two bullet entries but although both values add up and match, as individual values, they don’t match the bullet entries. As a result, I can’t reconcile the two values to Bullet. Here’s the scenario:
Entry A (P30 + VAT ROS payment): €1000
Entry B (P30): €700
Entry C (VAT): €300
So Tax payment in bank A/C is equal to the individual VAT and P30 entries in Bullet. These reconciled perfectly in Bullet.
Later, an amendment was made to P30 (additional salary payment), and a new payment was processed by ROS to cover the balance. The P30 payment in Bullet was marked as unpaid. Bullet recalculated the new payment owed. I then marked this as paid
Entry A (P30 + VAT): €1000
Entry X (new P30 payment): €500
Entry B (old P30 + new P30) = €1200
Entry C (VAT) = €300
How can I get Bullet to reconcile the two Bank A/C entries now with Bullet’s?