Add An Existing Expense to a Group in Strata Master
This article will assist you when you are instructed to -
- add, or include, or link, an invoice expense to a Group, where it is currently not linked to a group.
- change the group linked or added to an invoice expense, in part or whole of the amount, you will follow the same process with a minor change in the first journal.
The process will involve journals so a familiarity with journals will assist. This article will not provide full step by step instructions as it assumes a knowledge of journals and accounting processes in Strata Master. Links to other articles are provided to fill in some steps.
Assistance With Journals
Should you be less experienced with journals you will benefit by checking some important background on journals and how to locate required information on the transaction to be changed. Please refer to the article linked here - https://kb.rockend.com/help/how-to-create-or-enter-a-journal
In addition, training on journals with our Education Section would be recommended. Link to the MRI Training Academy website - https://mrisoftware-apac.skilljar.com/. There are Live Trainings and Recorded sessions, often FREE. You can also seek specific one on one sessions.
Overview of The Steps
1. Check bank reconciliation is balanced and then run a backup prior to making any corrections or adjustments.
2. Checking full details of the existing invoice expense to be corrected. Please refer to this article requesting that you check the Search/edit Transactions report.- https://kb.rockend.com/help/how-to-reverse-a-journal-in-strata-master
Note that we will -
- use cash at bank as the catalyst account, and
- also need to take account of GST implications and financials presented in selecting the date for the correction journals. You can use the gst exclusive amount if the original transaction was in a previous BAS period.
3. Reversing the incorrect invoice expense to be corrected.
4. Re-entering the invoice expense as it should be with the correct Group included.
5. Check your bank reconciliation is still balanced and then check your reports are correct.
Reversing The Incorrect Invoice Expense Record
These steps are also in the article https://kb.rockend.com/help/how-to-reverse-a-journal-in-strata-master. Refer below for information specific to Groups.
The example below was a Debit to account 153805 and credit to Creditors Other Admin for $18.90 including gst dated 28/9/2022, and paid on 30/9/2022. Note that $17.12 with no gst can also be used as the gst exclusive equivalent.
1. If the original invoice expense does not have a group linked or added in the search/edit transactions screen, then you DO NOT select a group in the reversal journal. This is because you are reversing details that are incorrect. Note the example below, no Group was selected in the original transaction and so is not included in the reversal.
2. If the original invoice expense DOES have a group linked or added in the search/edit transactions screen, but it is the wrong group, then you DO select that incorrect group in the reversal journal. This is because you are reversing details that are incorrect. Note the example below, where Commercial Garage was selected in the original transaction instead of Building Rectification, the Group Commercial Garage is selected in the reversal.
Re-entering the Invoice Expense With the Correct Group Included
Re-entering is as simple as creating a journal with the details as you require it. Refer the below example.
Cash at Bank Account
Note that the first journal to reverse will have a Debit to Cash at Bank and the second journal to re-enter will have a Credit to Cash at Bank, thereby ensuring the bank reconciliation is not affected.
Splitting the Expense Between More Than 1 Group
If the expense is to be split between 2 or more groups, when re-entering the invoice expense, you will need to process more than one journal. You will need a journal for each relevant Group, with the amount pro-rata'd accordingly.
Useful Links
https://kb.rockend.com/help/how-to-reverse-a-journal-in-strata-master
https://kb.rockend.com/help/what-is-a-group-in-strata-master