Hello Ozzie-3178,
Whether the fact the payment used to pay off an invoice has a document date that falls in the month prior to when the document date of the invoice it paid off, depends on your specific business practices, along with what you’re expecting to see in GP. What you’ve described is fine to do as long as you are Ok with the results you see in GP.
The different dates will affect how the documents are displayed on the Historical Aged Trial Balance report. So, let’s say you posted the payment on 12/31 (with a document date of 12/31), and you posted the invoice on 1/1 (with a document date of 1/1), and you applied the payment with an apply date of 12/31.
On the Historical Aged Trial Balance report, the payment will show outstanding when printed as of 12/31 (even if it was applied that day). This is because the invoice does not exist ‘as of’ 12/31.
When the HATB is printed as of 01/01 – both documents will drop off the report if you’re excluding ‘fully paid documents’.
All in all, what you did is OK as long as you understand what the document dates are, the posting dates are, and the apply date is – and you understand how these documents/transactions will show on reports and in General Ledger as a result.
I hope this helps!
Thank you,
Andrea Melroe | Sr. Technical Advisor | Microsoft Dynamics GP
