The Budget Reconciliation process looks at invoices where the Issue Date and Chart of Accounts matches the budget.


There may be times when the actuals require adjustment, for example, when a trust accounting landlord has paid the supplier direct, or where the paid expense invoice was incorrectly dated.


** clients with Trust Accounts please note that this process will not create entries on Trust Accounting reports as no payment is being made.


Step 1: Enter the Expense invoice as normal, using a date and expense code that matches the budget you want to add it to the actuals for.  Save and Approve the invoice.

Here is an example:



Step 2:  Enter an Expense Credit Note with the same supplier.

If the expense was paid direct to the supplier by a trust accounting landlord, match the property, supplier, date and reference to the expense invoice, but use an equity code like Owner Funds Introduced.  If you don't have a suitable code you can add one to your settings and then come back to this step.

This example is for if the expense was paid by a trust accounting landlord to the supplier direct:



If the original expense was dated in the wrong period, the credit note should have the effect of moving the expense, so it might have the same Account code, but a different date.  The credit note reduces actuals for the date and expense code used.


Step 3: Apply the Credit by entering the full amount against the invoice and clicking Save Allocations.  As there is no payment on either the credit note or the invoice, neither will appear in trust accounting reports or landlord statements.