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Cogitate Inc Newsletters


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September 2014 Newsletter Bookmark

Outstanding Invoices

One of the conveniences in APPAY is being able to choose which invoices you want to pay. This could be for various reasons, and usually is a temporary situation. All invoices should be paid at some point; however, sometimes you end up with invoices that never seem to get paid. A good example of this may be an invoice for a vendor you rarely do business with. At some point, though, you need to rid the system of these invoices if they’re not going to be paid. First, we need to determine what APPOST Journal they were posted in.

Often the invoice date will give you a clue as to when it was posted. If you cannot find when the invoice was posted, you can go to Vender Maintenance and run a Vender History report to find the invoice. Just remember to use a date range large enough to include this invoice. Once you know what invoice to look for, you can go to that APPOST Journal, select that invoice and delete it only if it was posted in this fiscal year. Every effort should be made to clean up these unpaid invoices before closing your fiscal year. What happens if this invoice is in a prior fiscal year? In this case you would have to go through the process of changing the year start date and deleting the BF and CE Journals, delete the invoice, and rerun the Post Balances Forward program. Please keep in mind that doing this will change your year end reports for the prior fiscal year.

But what if these invoices go back 2 or 3 years, or more? First of all, TRY HARD not to let this happen, but we know on occasion that it does. To fix this, you could delete all the BF and CE journals back to the year in question, and then delete the invoice and rerun the Post Balances Forward program up to the current year.

Another solution would be to ‘PAY’ these invoices in the current year. This will post a debit to the Accounts Payable account, which you want, and a credit to your Cash account, which you don’t want. To correct this, you need to go to GLPOST, choose the SOE GLJ, and post a debit to your Cash account and a credit to your Fund Balance account. The credit needs to be posted to the Fund Balance account because, when you close your books at year end the expenses get closed to the Fund Balance account.

As you can see, it’s a lot easier to handle these open invoices as they happen.

 

Read Full September 2014 Newsletter

Outstanding Invoices

One of the conveniences in APPAY is being able to choose which invoices you want to pay. This could be for various reasons, and usually is a temporary situation. All invoices should be paid at some point; however, sometimes you end up with invoices that never seem to get paid. A good example of this may be an invoice for a vendor you rarely do business with. At some point, though, you need to rid the system of these invoices if they’re not going to be paid. First, we need to determine what APPOST Journal they were posted in.

Often the invoice date will give you a clue as to when it was posted. If you cannot find when the invoice was posted, you can go to Vender Maintenance and run a Vender History report to find the invoice. Just remember to use a date range large enough to include this invoice. Once you know what invoice to look for, you can go to that APPOST Journal, select that invoice and delete it only if it was posted in this fiscal year. Every effort should be made to clean up these unpaid invoices before closing your fiscal year. What happens if this invoice is in a prior fiscal year? In this case you would have to go through the process of changing the year start date and deleting the BF and CE Journals, delete the invoice, and rerun the Post Balances Forward program. Please keep in mind that doing this will change your year end reports for the prior fiscal year.

But what if these invoices go back 2 or 3 years, or more? First of all, TRY HARD not to let this happen, but we know on occasion that it does. To fix this, you could delete all the BF and CE journals back to the year in question, and then delete the invoice and rerun the Post Balances Forward program up to the current year.

Another solution would be to ‘PAY’ these invoices in the current year. This will post a debit to the Accounts Payable account, which you want, and a credit to your Cash account, which you don’t want. To correct this, you need to go to GLPOST, choose the SOE GLJ, and post a debit to your Cash account and a credit to your Fund Balance account. The credit needs to be posted to the Fund Balance account because, when you close your books at year end the expenses get closed to the Fund Balance account.

As you can see, it’s a lot easier to handle these open invoices as they happen.

 

Read Full September 2014 Newsletter



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