Is it possible to reallocate an account in IQ/ERP Go without posting a ledger journal?

Is it possible to reallocate an account in IQ/ERP Go without posting a ledger journal?

Info

Question:
Is it possible to reallocate an account in IQ/ERP Go without posting a ledger journal?

We have noted that there are ledger transaction entries that were posted to the VAT Output account but should have gone to the VAT Input account.
Idea
Answer:

Yes, it is possible to reallocate an account without posting a new ledger journal.

However, a few important points must be observed:

  1. Account Type Consistency: The account being reallocated must belong to the same account type (e.g., Nominal or Balance Sheet).

  2. Correct Classification: Ensure the account’s classification is appropriate (e.g., Income, Expense, VAT Input, VAT Output, etc.).

  3. Accounting Rules Apply: Even though a journal is not posted, the underlying accounting logic and rules must still be respected to maintain accurate reporting and compliance.

Steps to Reallocate an Account in IQ/ERP Go

Navigate to Ledger --> Enquiries 


Search for the VAT Output account. 


Double-click the account or press Enter to open the general ledger account.


Right-click on the transaction to reallocate and select “Change Allocation”.


Click the Enable Editing button. 


You can now modify the following fields:

  • Account

  • Branch

  • Department

  • Reference

  • Description

  • Notes

⚠️ Important: You cannot change the date or amount of the transaction.

To proceed to change the account, click on the Account combo-box or drop down.

Search for and select the VAT Input account.

Click Accept to confirm the selection.


Add a note for auditing purposes (e.g., “Reallocated due to IQ issue”).
Click Accept again to finalise the reallocation.


The transaction will now be allocated to the VAT Input account.