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We want to be able to post date our ACH payments so that our cash is credited in one month (ex. June) and the expense hits in the next month (ex. July). This will be used for our Rent Batches, so that's why we want the expense to hit the next month (ex. July), we would process payment this month for next months rent. I hope this is making sense!
Any help is greatly appreciated. Thnx!
This makes sense! I'm going to try this in our test company ASAP! I figured it had something to do with the post settings but wasn't sure how to manipulate the settings to achieve my goals.
I will keep you posted!
Thank you!
Hello,
So when you post you Invoice it will credit your Payables Account. So in this case you would post your invoice for July (posting date, and make sure that your posting date is set up to pull from the transaction and not the batch under posting setup). This will Credit your Payables account in July and Debit your Purchases account in July as well. Then when you post the payment make the payment with a Posting Date of June. The this will Debit your Payables Account in June, and credit hit your cash account in June. Therefore the payment hits the GL in June, the Invoice hits the GL in July.
If you have tried this and still need assistance, this might be something that is easier explained or troubleshot through a support case.
If you truly need to defer the payment you might have to look into the Revenue Expense Deferrals Module to see if that is more what you are looking for.
Thanks!
Isaac Olson
Microsoft Support
Yes, I changed it to 7/1 which is the month I want the expense to hit.
Right now I'm trying a Test Batch with the transaction and posting date both 7/1, then I'm going to create a check run with today's date and see if that doesn't work. Whenever I print the "detailed trial balance" previously, it's shown both the cash and expense in July. My AC has tried multiple methods as well but can't seem to perfect it either. I'm going to keep at it! I just made some changes to the Financial post settings, maybe that will work. Thank you, by the way! If you think of anything else please keep me updated and I will do the same.
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