Delete downloaded transaction

Hi Stuart - My accountant came before FAC, so they were managing all my affairs. I gave them the vote of no confidence and trying to reconcile their management of my company bank account. So, they provided a reconciliation of all the ins and outs of the company and after all that was done, they were due me a transfer of £14kish to transfer into my new company bank account (they were holding all cash in and out too). So this is why I need to delete that transaction into my bank account since I have inputted all the data into FAC historically and therefore in reality that transfer should not exist.

With regard to your question Ed, I'm trying to isolate why there is a difference between my bank account in FAC (a combination of manual entries and now downloaded entries) and reality of my company bank account (some £20k difference). The £14kish transaction accounts for that amount but trying to find where the other £6k is. If I could manipulate the data download from the FAC bank account, I could check off the transactions itemised with my current accountant against those transactions already inputted into the FAC bank account.

Does that make sense? Might be worth having a chat for more clarity?

Cheers,
Gav

Hi Ed/Stuart - Downloaded bank transactions a couple of nights ago and perfect! This gives me what I need to be able to check the accountants statements over the past 2 years against FAC entries ... hopefully now I will be able to isolate where the difference is (by checking off each entry).

The only thing remaining is to work out how to delete a downloaded transasction?

Thanks!
Gavin

By the way, just as an update, thanks to the download function on the bank statements, I managed to manipulate the data (by using the filter function in excel) and I have now isolated, what I think is, a 12k error by my accountants, which has been nagging me for months now! Thanks again!

Sorry to be a nuisance Ed/Stuart - any ideas on how to delete the downloaded transaction, or even better, perhaps manually inputting a credit transaction for the same amount with an explanation for the credit, so that the credit does not appear as an entry on the balance sheet or P&L?

Thanks

@Gav,

Sorry Gav it's the accountant in me but before I answer your question are you able to give some background as to why the 12K is wrong.

Yeh sure. When I ended the relationship with my accountant at the end of 2007/2008 financial year, they had to reconcile all the ins and outs of the company's finances and transfer to me the cash remaining in the company bank account, which they were managing (all income and expenses they were administering). It took them until June to work out that they were due me 14k in surplus cash (retention of corporation tax for 2007/2008, retained profits in the company etc). So meanwhile, I was historically inputting all the transactions for the company which were on each contribution statement that my accountant prepared for me each time they paid out a dividend. But when I had finished inputting all the historical data, the bank balance reflected in FAC did not match that which was in the company bank account, a difference of some 12k. My accountant said it was nothing to do with them, but by checking off each transaction on the contribution statements with what was in the FAC bank account, I managed to isolate the 12k, which was down to them withholding from me a calculation for PAYE/NI, CT, pension payments, etc etc,., but actually paying out to HMRC, pension company, less than what they were retaining from me. When all this was tallied up, it amounted to some 12k. To in summary, they are due me 12k, which is already accounted for in FAC through all the historical data. The 12k bring up my company bank account balance right in line with the bank account balance reflected in FAC.

Does that make sense?!?

Yes but I'm going to have some more questions later on today. Is that okay?

Yes, maybe you could e-mail me the questions to my e-mail address .... gavin@esslemont.ltd.uk

Many thanks,
Gavin

OK

Ed, any chance of you deleting this magical 14k transaction from your end? It appears as a downloaded bank transfer transaction for the amount of 14,179.07 on 09Jul'08. Otherwise, is there any way of disguising this payment or explaining so that it does not have an impact on my accounts and does not appear as a transaction? At the moment, I have had to change the starting balance of tthat account to -14,179.07 to let FAC calculate the balance right, which is not ideal since it shows that as having my first year in negative cashflow!

Easiest way I feel is maybe for you guys to delete it at your end??

Any help appreciated,
Gavin

Thanks Ed

Ah ok, understand. If my accountant asks, I'll explain. Just one thing .... notice now that I have corrected my opening bank balance to zero back in July 2006, the P&L for 2006/207 is showing a carried forward negative balance of the 14,179.07. There were no transactions in 2005/2006, so wondering where this number is coming from, any ideas? Sorry to be a pain!

It's ok - sorted it. had the adjustment in the P&L opening balance too. Thanks.