Dear All,
I appreciate when I reconcile to GL the receivable management for a certain month and the difference is zero, the problem this difference becomes huge when using schedule payments, should i reconcile in the case to the 31 Dec 2013 which is actually open in our accounts? will this be the best practice in the system?
Is the idea to reconcile the ending balances only because this is what matters?
Best Regards,
Yes, Waleed, you need to ensure that the date range includes those scheduled payments, and any other documents posted into future periods.
Frank E. Hamelly, MCP, MCITP, MCT, MVP
http://gp2themax.blogspot.com/
Dear Frank,
It matched when the date is extended to 31 Dec next year, the only question left is that I will not be able to know the balance of the receivables at 31 Dec this year and that is because the scheduled payments shifts the invoices to future period, leaving me no hint about what is the true balance of customers are at a certain date, am I correct?
Thanks
Waleed, in that case, I would always set the end of the date range on the Trial Balance to that period in the future that includes your furthest-out scheduled payments.