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Re: How does one delete an incorrect Apply To Funds transaction

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Kathy Burger Posted: Thu, Jul 2 2009 10:18 PM

Here's a silly question. Is the invocie right? The auto-apply should have been correct if the amount of the invoice was correct. Just transfer the additional 7.00 to operating. But don't record it, because the apply funds already included the 7.00. A withdraw funds transaction would not apply to an invoice. Somewhere there is a payment, apply funds to AR, credit, or write-off related to that invoice. Open the invoice, (click change, not reprint), and in the bottom left you'll see a tab for transactions. You will be able to see what transactions have been posted against this invoice. But, I ask again, why delete the invoice? Was the invoice right? Was the apply funds to AR right? Only your transfer to operating was incorrect, so just fix that part. If you have the accounting turned on, you'll need to keep this in mind when doing the account reconciliation.

Kathy Burger PREMIER LEVEL CIC - PCLaw, Time and Billing Matters Plus Certified Kathy Burger Consulting, LLC 200 Windward Ave. Beachwood, NJ 08722 732-279-6301 Kathy@KathyBurgerConsulting.com

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Thanks for the reply.  The invoice is right.  I have balanced everything, essentially, by doing what you suggest.  Because it was invoiced right my Operating account thought it had $7 more in it than it did, and my Trust had $7 less than reflected in TM.  For the operating account, I listed a "withdraw" of $7 and for the trust I listed a deposit of $7 to reflect the mistake.  I then wrote a check from the trust for the $7 and recorded that in both the trust and operating account.  Now everything reconciles.  I know I could have just written the $7 check from the trust, but there was some time that went by, and I wanted it reflected in the trust what the actual balance was at all times.

My problem with that is that it does not reflect what actually happened.  I get pretty nervous when it comes to any funds coming out of the trust and, like everyone, I want to make sure everything is documented so when I get audited things go smoothly.

I did check the transaction list on the invoice.  The only transaction listed is the Apply Funds to AR.  When I click on it to delete it, nothing happens.  The tag on the record gets reset but the transaction does not get deleted.

I can live with it the way it is, but it just annoys me that I cannot figure out why this transaction cannot be deleted.

Francis J. Cleary,Attorney, Sioux City, Iowa.  

TM8-Pro with Billing Matters installed on a server running XP Pro and a laptop running Vista.

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My motto has always been, reality is what your system should reflect as is defined by the bank. Whatever is on your bank statement, that's what happened, and that's what you should see in your system. That's not always absolutely practical though, but I share your desire to show exactly what happened. I'm not happy that you cannot delete a transaction though. Try going to the transaction list rather than the AR tab of the matter. If the item is deposited to operating, you'll have to undo the deposit first, then delete the apply funds.

Kathy Burger PREMIER LEVEL CIC - PCLaw, Time and Billing Matters Plus Certified Kathy Burger Consulting, LLC 200 Windward Ave. Beachwood, NJ 08722 732-279-6301 Kathy@KathyBurgerConsulting.com

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I did try this initially. When I tried to delete the Apply to Funds from the Transaction List the x would clear but the transaction would not delete. There was no error message either. I believe that these months may have been finalized in the account register reconciling process. I'm not sure, but the operating account was shown as reconciled when I started working on them. Right now I suspect that the finalizing process made it so that this transaction cannot be deleted.

Francis J. Cleary,Attorney, Sioux City, Iowa.  

TM8-Pro with Billing Matters installed on a server running XP Pro and a laptop running Vista.

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You can go to the account register, locate the deposit, right-click, and select 'unreconcile'. When the item has been put back in, you can go back and re-reconcile. Why did it get reconciled if the amount was incorrect? Was an adjusting entry done to account for the 7.00 difference? If so, that adjustment will also need to be removed to keep your accounts in balance.

Kathy Burger PREMIER LEVEL CIC - PCLaw, Time and Billing Matters Plus Certified Kathy Burger Consulting, LLC 200 Windward Ave. Beachwood, NJ 08722 732-279-6301 Kathy@KathyBurgerConsulting.com

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It was reconciled because the person doing the books at the time new of the error, and made a record of it in various places, but wasn't sure of how to account for it. She wanted to move on to other months so marked it as reconciled so that she could move on reconciling other transactoins, knowing the balance would show a $7.00 difference. Not the best decision, but what is done is done, and in hind site I should have provided better guidance. I did unreconcile the item when I was originally trying to work on this. It didn't matter if it was unreconciled or not, the transaction could not be deleted. Thank you, again, for your attention to this. I do appreciate all the help.

Francis J. Cleary,Attorney, Sioux City, Iowa.  

TM8-Pro with Billing Matters installed on a server running XP Pro and a laptop running Vista.

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