Hi,
I'm facing the current problem, could somebdy pls help.
The scenario is as follows:-
I owe my vendor say 10K and before my client migrated from from old system to new system they have made a payment of 3K. This 3K has been entered as 3 separate credit note that werent applied to any invoice.
And after the migration, my client pays 1K monthly till July this yr. Rightfully, there isnt any outstanding balance for this vendor as all 10K has been paid.
However, when i run revaluation, i realised that the three credit note(amounts to 3K) is actually revalued every month since Jan.
So i went to print my Ap Vendor Transactions Report and the balance shows zero but when i print my AP Aged Payables Report, it shows that i have an outstanding amount of 3K which i believed is coming from the CR Note.
1) How do i solve this outstanding value in AP when in GL the accounts are balanced?
2) Do i need to always apply all CR or DR Note created in AR or AP to a document? & how do i do that ?
Please kindly advice.
I'm facing the current problem, could somebdy pls help.
The scenario is as follows:-
I owe my vendor say 10K and before my client migrated from from old system to new system they have made a payment of 3K. This 3K has been entered as 3 separate credit note that werent applied to any invoice.
And after the migration, my client pays 1K monthly till July this yr. Rightfully, there isnt any outstanding balance for this vendor as all 10K has been paid.
However, when i run revaluation, i realised that the three credit note(amounts to 3K) is actually revalued every month since Jan.
So i went to print my Ap Vendor Transactions Report and the balance shows zero but when i print my AP Aged Payables Report, it shows that i have an outstanding amount of 3K which i believed is coming from the CR Note.
1) How do i solve this outstanding value in AP when in GL the accounts are balanced?
2) Do i need to always apply all CR or DR Note created in AR or AP to a document? & how do i do that ?
Please kindly advice.