How to adjust Accounts Payable

Took on a new client and had to create open balance sheet in Sage 50 from Dec 31, 2021 T2.  I now have payments made in Jan 2022 for invoices posted in previous year (accounts payable) however I can not adjust via journal entry.  How do I reduce AP?  Thanks

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    When you created the balance sheet you should also enter the accounts payable balance thru the purchase module.

    It could be as simple as creating a vendor called ABC Tools and enter the total owing as an invoice called Bal@Dec31/21 dated Jan1/22. That will also add the amount into the Account Payable liability account in the 2000 section. Now when payments are made you can post thru the Purchase module under 'Payments' which will reduce the balance owing to ABC Tools.

    If you have not used the Acct Pay module but only entered total from Dec31/21 into the Acct Pay liability then you could reverse that amount and re-enter thru the Acct Pay module - just be sure to date it all same date and that the total of all vendors do match the original total you entered.

    Hope this helps!

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  • 0

    When you created the balance sheet you should also enter the accounts payable balance thru the purchase module.

    It could be as simple as creating a vendor called ABC Tools and enter the total owing as an invoice called Bal@Dec31/21 dated Jan1/22. That will also add the amount into the Account Payable liability account in the 2000 section. Now when payments are made you can post thru the Purchase module under 'Payments' which will reduce the balance owing to ABC Tools.

    If you have not used the Acct Pay module but only entered total from Dec31/21 into the Acct Pay liability then you could reverse that amount and re-enter thru the Acct Pay module - just be sure to date it all same date and that the total of all vendors do match the original total you entered.

    Hope this helps!

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