How do people reconcile their Received not invoice account at Y

I balance the Received but not Invoiced each month. The trick is to
print the report on the last day of the month after all AP is entered.
Our AP clerk is not allowed to post an invoice from a Purchase Order to
a previous month, because this report is like a bank reconciliation-once
you clear the item, it is gone from the report no matter what "as of"
date you tell it. AP can be posted to a previous month if it is not on a
Purchase Order such as utility bills, etc.



We still give the invoice the correct date for aging purposes. When
invoices are posted in one period and dated for another period,

You have to run the AP aging by Fiscal Period instead of Invoice Date to
agree with the GL. The only variance is if there was a purchase
adjustment on one of these invoices (Posted in one month, dated for
another). Purchase adjustments may show up in the wrong period, creating
a timing issue and throwing the report off. If I am having trouble, I
will run reports to see that if all transactions were posted to date,
would the GL agree with the report. It usually does, and I make a
notation that there was a timing issue, but the report is in balance as
of (date).



Another thing to look for is if someone has back dated a received order.
This usually happens on the first of the month, and they are receiving
things that came in the day before. I also run a WIP/Reconciliation for
the GL account used for AP clearing to see if something has been
received after the report was ran.



I also make sure the there is nothing on the shipped but not invoiced
report. If there is, we check out the shipment to see why it is there. I
have only had one of these show up, it was researched, and fixed.



We do not deal with AP Advance Billings.



Karen Brodniak

Accounting Manager

karen.brodniak@...

425-742-7011 X44

Fax 425-353-8945



-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Tony Topping
Sent: Wednesday, March 21, 2007 3:23 PM
To: vantage@yahoogroups.com
Subject: [Vantage] How do people reconcile their Received not invoice
account at Year end



And the shipped not invoiced
and AP advance billing at year end to the satisfaction of Auditors?



[Non-text portions of this message have been removed]





[Non-text portions of this message have been removed]
And the shipped not invoiced
and AP advance billing at year end to the satisfaction of Auditors?





[Non-text portions of this message have been removed]