Enter Payables Voucher Dated in a Closed Period

[appelq]

I am a brand new GP 10.0 user, and have an issue:
Today is 8/15/07 and we've closed the July period.
I now get an Invoice from a vendor with an Invoice date of 7/10/07.

I'm told I can't enter 7/10/07 as the invoice date, and I must enter an August date.

This does not make sense to me.

I should be able to enter the old Inv date and since that period is closed, the G/L date should auto-magically get set to the next available "open" period.

I should be able run an A/P Aging based on the actual invoice date.

Any comments / work arounds for this?

Thanks,
Chuck

 

[LyleU]

What you are really asking is for the accounting system to let you create an out of balance situation as of the end of July.

Consider that the subledger would be reporting the invoice as a July transaction, but the G/L would not have a corresponding July entry. A trial balance of the A/P as of July 31 would not balance to the G/L A/P control account as of the same date. Perhaps not a great imposition for one entry but this could snowball in a busy shop and you would not have a hope of balancing, either now or by using a historical trial balance at some time in the future, like when your auditors are looking over your shoulder at the next year end.

 

[RobertC22]

Here is an alternative approach to the problem.

On the Payables Entry window, enter the invoice date as shown on the invoice. Then choose the [blue][->][/blue] button and amend the Posting date to todays date, which should be an open Financial Period.

When running the historical aged trial balance, ensure you select based on GL Posting date so that you can match the payables subsidiary ledger to the GL account amount.

The other option is document date, which would not match because your Invoice date and posting dates are in different periods.

------
Robert

 

[appelq]

I will try the Option robert suggests.
that sounds like what I need to accomplish.

The Invoice Date and GL Posting Date are different things.
GL Posting date must be an Open Period, no doubt.

I just need the option for tracking the correct Invoice Date no matter how old it is when it is entered.

Thanks for both of your input!

regards,
Chuck

 

[VictoriaYudin]

GP allows for the subledger (in this case AP) date to be a different from the GL date. When you run a historical aging of the subledger you can choose whether to use the Document Date (from the subledger) or the GL Posting Date for the report. Using the GL Posting Date for the aging will allow you to reconcile the subledger to the GL. Using the Document Date for the aging will allow you to see the true aging of your subledger.

When closing a period in GP you can choose what Series to close. So you can close the Financial series for July (which would not allow you to post to the GL for July) but leave the Purchasing series open. Then, as Robert said, enter July for the Document Date and August for the GL date on the payables transaction. This is how GP was intended to be used.

Hope that helps.

Victoria
Flexible Solutions, Inc.