Payments posted to invoice prior to invoice date (both AP and AR)

Posted By Nicholle Anderson over 1 year ago

Good Morning!
Years ago, Sage support helped guide me with this problem when I had it once before, and in reaching out recently, they keep sending me info for transactions for prior year adjustments (no help).

As we all know, if a payment is posted prior to the invoice date, whether in AP or AR, it throws our GL Out-of-Balance. There is a way to do an inquiry in both AP and AR to help identify and find these issues so they can be fixed. Unfortunately, I don't remember how. When I search in the knowledgebase, it sends me to yearend procedures, and I can't find the answer in those guides. Any assistance you can provide I would be forever appreciative.

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0 4139750 over 1 year ago

I think you are referring to balancing the Aged AP or AR to the GL control accounts for AP and AR. The Account Sets in AP and AR allow you to specify a liability account for the prepayments. If you use the same GL account for your control and liability account you won't have a difference but if you specify a separate liability account you must put both accounts into your reconciliation AP/AR to GL.
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0 4139750 over 1 year ago

I think you are referring to balancing the Aged AP or AR to the GL control accounts for AP and AR. The Account Sets in AP and AR allow you to specify a liability account for the prepayments. If you use the same GL account for your control and liability account you won't have a difference but if you specify a separate liability account you must put both accounts into your reconciliation AP/AR to GL.
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Payments posted to invoice prior to invoice date (both AP and AR)

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