In building files how do I enter AP/AR open items?
Listed below is an example for entering AP open items, AR open items are entered in the system in the same manner. Assumes the following: a.) Beginning balances will be entered as of April 30, 2001 b.) May 01, 2001 detail entries begin. c.) We will use “internal link account for AP beginning – suspense account. This must be the asset account. d.) Find the suspense account and change the account number to 999999. e.) Print “AP Open Item Detail” report as of 4/30/01. 1.) Compare total on report to GL as of 4/30/01 (they should be the same). f.) Enter each invoice in detail by vendor, charging the invoice to account #999999.
