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#44048 - 07/19/11 11:32 AM Year End A/R and A/P entries
kamlake
Member


Registered: 07/30/06
Posts: 41
Loc: British Columbia
Our accountant has given me a list of year end entries to make. Some of the entries are using A/R or A/P GL account numbers that I can not enter in a Journal Entry. (ex: CR to 1200 and DR to 1208)Acct 1200 is A/R and is not available to change. I can not find anything in the knowledge base to help me out. Is there a process to making these entries?

Diane

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#44051 - 07/19/11 08:55 PM Re: Year End A/R and A/P entries [Re: kamlake]
Ralph Allan
Member


Registered: 05/16/03
Posts: 993
Loc: Prince George BC Canada
Three ways:

Best: determine the customers and vendors involved and enter invoices/credit notes as needed.

Not so good: Make a "Payables offset" account with a number one higher than Accounts Payable and post the adjustment there. Do the same for Receivables.

Bad but possible: If your accountant has the "Accountants version" of Simply (many do), he can "adjust" the control accounts. Send him your current data, have him post the year-end adjustments, and send the data back.
_________________________
Ralph Allan
Business Computer Centre
Prince George BC Canada
See us on the web: http://www.bccentre.bc.ca

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#44052 - 07/20/11 12:57 AM Re: Year End A/R and A/P entries [Re: Ralph Allan]
kamlake
Member


Registered: 07/30/06
Posts: 41
Loc: British Columbia
Thanks Ralph....I entered credits to offset each entry.
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