Find and recode payments

The main screen of the Payments tab includes a Find & recode button at the bottom to assist with bulk recoding of line items on bank transactions to different accounts or to apply different tax codes:

This feature is often useful for posting payments from imported bank statements to proper accounts when they are not handled correctly by payment rules. It can also be used in other situations, including when new accounts are added and you want to reallocate prior payments to the new accounts.

Notes
Payments in cash accounts are not included in the Find & Recode function.

The Find & recode function works at the line-item level, not the overall transaction level. This gives you the a ability to find and recode individual lines on payments.

Example
Northwind Traders routinely contributes money to charities in return for acknowledgement in the charities’ publications. The business believes local regulations allow a deduction from income for the donations. However, at the end of the fiscal year, the company’s accountant determines that such contributions are not eligible for treatment as charitable donations, but only as advertising expenses. So every donation recorded during the year must be recoded from a Donations account to an Advertising and promotion expense account. This can be done very quickly using Find & recode.

Finding and selecting payments

In the Payments tab, select Find & recode. A list of general ledger transactions for line items on payments withdrawn from bank accounts appears:

Note
Payments for inventory or non-inventory items will not be presented in this list, because the accounts to which they are posted are defined when the items are defined. If you wish to recode these, do so in the Settings tab.

From this list, select payments to be recoded directly by checking boxes in the lefthand column. Or, use the search function to narrow the list, in this example by entering the account name Donations and clicking Search:

From the narrowed list, select specific payments to be recoded:

Recoding payments

Once payments to be recoded are selected, scroll to the end of the list and select the new account. If a tax code applies, choose one:

Click Bulk Update to recode all selected payments to the new account or tax code:

Note
Tax codes can be recoded without changing accounts.

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