We are in the process of reporting outstanding AP vendor checks to the state to meet the state's escheatment requirements on unclaimed property.
In Ax, we are thinking we'd have to void the outstanding/uncashed check, which in turns "opens" the invoice for the vendor. We'd have to reverse the original invoice through a journal entry recording the gl offset to an unclaimed property liability account (instead of the original gl coding), and then issue a check to the state.
Does anyone have any experience with Escheat checks and if so what process in Ax did you'all follow?
Any help would be appreciated - thanks :)
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