When you click the Process button in the Reallocate Transactions screen a bulk journal will be prepared in accordance with reallocation settings entered.

The Transaction lines at the top of the journal represent new charges to A Bacon. These transactions were originally charged to F Shepphard in the month of August and relate to services provided to the horse Agnus during that period.

The Horse Money entry at the bottom of the bulk journal represents the credit to F Shephard resulting from the journal. You will note that the amount of the credit is the same as the total transaction charges to A Bacon. The credit is a simple one line entry, because we chose “simplify credit on owners statement”.

The General Journal entries in the middle can be ignored, unless you have an interest in accounting. The purpose of these entries is to ensure that the reallocation does not result in any additional income or GST collected for your business, as no additional revenue is generated by the reallocation (it simply moves an account receivable balance from one client to another).

For more information on bulk journals see the Ardex Premier Bulk Journals guide.

the Ardex Premier Bulk Journals guide 

Note that normal bulk journal restrictions will apply to the reallocation journal entry, so if any dates are prior to the end of period date, or if any transactions are dated after to the journal entry date, then this will need to be fixed before the journal is recorded.

In this example we used the set all dates to be option, so there are no date selection errors to worry about. When you are satisfied with the bulk journal click the Process button at the bottom left to record the reallocation transactions. Confirmation of the reallocation will be printed in the form of a Sale Document.

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