Make Prior Year billed credit entries in AR

I need to write off some Accounts Receivable billings as of 12/31/15 when the 2015 A/R year has already been closed. Is there a way to enter A/R Billed Credit entries as of 12/31/15?

  • 0

    AR will let you do this.  However, you may need to rerun AR reports for December and forward.  Also, it will create entries in General Ledger for 12/31/15 accounting period.  

    If General Ledger is closed for the fiscal year: You will need to reopen the December period, post the entries, reprint the December General Ledger reports, close the period using open/close period, backup General Ledger, and then use Close the Fiscal Year to close the adjusting entries into Retained Earnings in General Ledger for 12/31/15.  You will need to Close the Fiscal Year again for 12/31/15 to close 2015.  You will need to reprint any General Ledger reports for January 2016 and forward to your current period.

  • 0 in reply to Rhonda V
    Thank you for your timely detailed response it is very helpful.