• Section: How To
  • Last updated: May 30, 2019, 10:51 a.m.

Change Recorded Transactions

Background

You can make changes or delete transactions once they have been recorded, provided the transaction is dated in the current, or some year ahead of the current, fiscal year.

Security Preference

AccountEdge has a security preference "Transactions CAN'T be Changed; They Must be Reversed". This option can be found under Setup > Preferences > Security, and it can be changed anytime, as many times as you wish. (You will need Company File Administrator Privileges to make the change.) If the box is checked then you can't edit transactions - if it is unchecked you are allowed to make changes to transactions. (Québec customers should refer to the Modernization of Audit Techniques Act page.)

Editing or Deleting Transactions

To edit or delete transactions:

  • Go to Setup from the menu bar at the top of the screen
  • Choose Preferences from the drop down menu
  • Click on the Security tab
  • Confirm that the box next to "Transactions CANT be changed; They Must be Reversed" is unchecked
  • Find the transaction in the appropriate transaction journal or Register
  • Click on the arrow to the left of the transaction to bring it up on the screen
  • Make changes as needed, and click OK

If you want to delete the transaction, while the transaction is up on the screen, go to the Edit menu on the top menu bar, and choose Delete Transaction.

NOTE: Transactions from prior fiscal years can only be reversed, not deleted. Not all transactions can be edited: Paychecks and Vendor Payments must be reversed or deleted and re-entered with the desired changes, customers or vendors on sales and purchases cannot be changed - they must be deleted and then re-entered.

Reversing Transactions

When you reverse a transaction the original transaction is left alone. It will still exist in the system. A second transaction for the exact opposite of the original transaction will be created. These transactions will wash each other out.

If you want to Reverse your transactions, set your Preference to Unchangeable in the security preference described above. Follow the steps to Delete the transaction, except this time, the Edit menu will show Reverse Transaction.