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Good afternoon Community,
I am currently using GP 2015 v.14.00.0817 (R2). I have completed my year-end closing with my independent auditors and have one transaction that I am in need of some assistance; Debit A/P and Credit a Balance Sheet account. I recognize that posting this transaction as a journal entry (Financial > Transactions > General > Transaction Entry) will ONLY affect my GL. How can I complete this transaction so that my A/P sub ledger and GL are in agreement/in-balance?
Any assistance is greatly appreciated, and you if you require further information, please let me know.
Is your current AP GL in balance with your AP AP ? If so you can enter a payables document and make sure it posts into the prior year with the proper accounts. If not, does this transaction bring the two balances into agreement?
Thank you for the prompt response @Richard Wheeler. Yes, my year-end AP GL and AP AP are in agreement prior to the adjusting journal entry required by my independent auditors. Just to be clear, the year-end adjusting transaction is to reduce my AP. Hence, provide me with the appropriate steps on how to enter this payables document (e.g., document type).
If you have any further questions, please let me know.
What two accounts need to be hit? AP and what else? What is the nature of the original transaction? Since you are debiting AP you must be voiding a check or entering a credit memo?
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