AP account balance

Wayne, we balance our AP GL accounts to the detail aging each month. Almost
without exception, if we have a variance it relates to an invoice being
posted to a fiscal period other than when it was dated. It will show on
your detail aging according to its date which may or may not fall into the
fiscal period to which it was posted in your GL. It should but mistakes
happen with posting periods of AP groups. It can also be related to voided
checks and invoice adjustments.

Jerry Boyle
Sipco Molding Technologies
Meadville, Pa. 16335-6725
814.724.2243
Visit our web site at www.sipco.com


-----Original Message-----
From: Wayne Cox [mailto:wmc@...]
Sent: Friday, February 09, 2001 5:21 PM
To: vantage@yahoogroups.com
Subject: [Vantage] AP account balance
We have a strange situation with our Accts Payable. My Accounting Dept
tries to match the detail of the open invoices to the ending balances on
the appropriate GL accounts, and they do not balance. A few times in the
past, they have made adjusting entries, but they continue to fluctuate by
varying amounts each month.
I've checked for things like invoices expensed to the AP account, and other
erroneous entries, with no luck.
Does anyone else do this same balancing exercise with any luck? any ideas
what could be causing the imbalance? (This is in Vantage 3.0.632)
We have a strange situation with our Accts Payable. My Accounting Dept
tries to match the detail of the open invoices to the ending balances on
the appropriate GL accounts, and they do not balance. A few times in the
past, they have made adjusting entries, but they continue to fluctuate by
varying amounts each month.

I've checked for things like invoices expensed to the AP account, and other
erroneous entries, with no luck.

Does anyone else do this same balancing exercise with any luck? any ideas
what could be causing the imbalance? (This is in Vantage 3.0.632)

-Thanks,
Wayne Cox