Sage 100

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Clearing AR Invoices

Posted By Kim Pacocha over 1 year ago

I need to clear multiple AR Invoices for loans. Payments against loan balances years ago changed to be offset by a GL account as loan software was utilized to track loan balances. At this point the loans are paid off and the invoices are sitting in the AR Customer profiles. When I run an AR trial balances the invoices show up with significant balances. How do I clear the loan invoices for the loans that are paid off?

0 BigLouie over 1 year ago

You problem is that it is going to hit your income statement hard. Any method you use such as credit memos or zero dollar deposits will hit the income statement. You will need to get with your CPA to work out a plan of action. In a test company you should try a zero dollar cash receipt and use a GL to offset and then run financials to see what happens.
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0 Kim Pacocha over 1 year ago in reply to BigLouie

Thank you BigLouie. Your answer confirms what I was thinking. Very much appreciate you time.
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Clearing AR Invoices

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