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Does anyone Know why in A/P Aging Summary when dat...
# accounting
k
Does anyone Know why in A/P Aging Summary when date is As Of 31/12/2019 i get Journal’s and Bill’s that have the date of 31/12/2019?
p
What are your aging options set to?
k
No idea. Where do I find that?
p
When you run the A/P Aging Summary Report, there is a button labelled Aging Options at the bottom of the screen next to the filters
k
message has been deleted
p
Ok, so that's aging them based on today's date rather than on 31/12/19. If you change that Age As Of field to 31/12/19 then I suspect those Journals and Bills will not appear (assuming 31/12/19 is not also the due date of those transactions).
k
TBF i did that already but these Journals that are showing are in 31/12/2018
p
Then presumably because they still have open balances as of 31/12/2019...
k
Yeah that is what I don’t understand as it’s a journal, not a bill that hasn’t been paid yet.
How would a journal have an open balance?
k
If it hits the AP account it has an open balance
unless something has been applied against it
if you go to accept payment screen on that customer, you should see the value as appliable still
k
Yeah but surely that is not true for a journal moving a balance from AP to another account.
k
also - journals are "due immediately" they don't get due date treatment like other transactions
If you touch AP you touch AP. Doesn't matter what it is that does
k
Well our accounts team put an end of month journal on for something from AP to another account. Will it just be sat there now until the dates are different?
k
I'd probably find out why they put it in there - if it's more than a temporary adjustment it needs to be applied to a specific customer
and then it can be applied against specific customer. It'll be there forever until it is applied
k
Looks as though they paying something off as a journal from a bank account to the AP
Something about reconciliation or something
As it’s linked to a supplier.
k
then it goes to that vendor - and it would be an outstanding balance, as seems to be the case
perhaps you underpaid for something? or had a check not clear?
recorded a larger payment than was actually submitted?
If you over paid, then it would have a negative balance - and would essentially be a vendor credit that could be used at a later date
k
Quite possibly but I reckon that should of been done as credits
k
assuming your vendor would accept that it was an overpayment
well, can't do a vendor credit that hits bank account directly - probably why they did journal entry
k
It now they moaning as it just stuck there
k
should it have been booked against an expense account instead of A/P because yeah, it's "stuck there"
k
Not sure but as it was back in Dec 2018 those periods are now closed. And I have no accounting experience to tell them what to do lol
k
they can book a new journal entry to get books in desired balance at the right offset
and I'm guessing note not cpa - that it probably should be a hit to expense
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