Check Voiding vs Reversing
Question: We have an issue with a voided check. Before, when a check was voided, the check amount went back to the vendor's account automatically. But recently, when we voided the check (same procedure as before), the Check Reconciliation window shows V, but the amount didn't go back to vendor's account. What is happening?
Answer
: In Adagio Payables you should never "void" a check, you should "reverse" it. Voiding a check has the same effect as clearing a check, which is to say none, other than removing it from the list of outstanding checks. Reversing a check is what puts the invoice back onto the vendor's account. Reversing a check debits the bank and re-instates any invoices the payment was applied to. You were most likely reversing checks before, not voiding them.
We recommend you disable the Void option in Edit | Company Profile | System Options.
If you have posted the Void check, there is no way for you to "unVoid" the check. You will need to make a journal entry to add the cash back to the GL (credit to the expense), and then re-enter the invoice using a slightly different invoice number.
Posting To A Prior Year
Question: We are mid way through the year and I have discovered that there is an entry that should have been done in the prior year. Can I go back and input it into the previous year, and if so, can I re-close the year with any changes updated in retained earnings?
Answer
: It is possible in Adagio Ledger to post a transaction directly to the Prior Year, without the need to re-open the year. If any accounts are Income/Expense accounts, the Retained Earnings will be updated accordingly, automatically.
Softrak has a number of short videos on their website or from YouTube about running particular processes in Adagio. Here is a link to a short four minute video for closing the year in Ledger, and how to handle entries that need to be posted to the prior year.
You can also browse the complete list of videos if you are logged into the Client Portal of the Softrak website, here:
Alert for On Hold Vendors
Question: Is there a place to turn the sound off when selecting Vendors that are on hold? I understand the usefulness, but I use a lot of hold vendors and every time I select one of them I get the alert sound and then again when I go to enter anything. It's driving me insane!
I use the Hold feature to stop payments from being generated to vendors that I pay by EFT etc. Maybe there's a better way?
Answer: Yes, there is a better way. To prevent inadvertently paying the EFT Vendors in a System Check run, assign one of 2 Report Groups to each Vendor: "CHQ" or "EFT". Then, on the System Check run screen, use "CHQ" for the Report Group starting and ending values.
Also, Report Groups can be easily imported from Excel. Here's a fast way to set all your "On Hold" vendors to the Report Group "EFT":
On the Vendor Grid, Press F6 to bring up the SmartFinder.
Adjust the Grid Columns to show Vendor number, Vendor Name, Vendor Status (On Hold) and Report Group.
- Set the SmartFinder Rule to select all vendors where Vendor Status = 1.
- Send the resulting list to Excel and save the file in amongst your Adagio Data, turning off the Total Row.
- Create an import template to import this Excel Sheet using File | Import | Vendors.
- Choose the Vendor Code Field and four Fillers (You don't actually need to import anything other than the Vendor Code).
- Set the default Values for Vendor Status to "0" and Report Group to "EFT".
- Don't allow the addition of New Vendors.
- Say the First Row contains Headings.
- Make a backup.
- Process the import.
- Check the changes have been made as you expect.
You can find more tips like this in the Softrak Technical Support Forum at www.softrak.com, by signing into the Client Portal.
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We are fielding many questions lately regarding Adagio Cloud, Softrak's "software as a service" subscription-based version of Adagio Accounting. Here are some of those most frequent questions and answers.
