Tricia,
If I understand this correctly, all the invoices should have been posted in
period 8 but were actually posted in 11. If so, I would just open period 8
and do a journal entry to move the invoices to 11: DR expenses in 8, CR A/P
in 8 (using the closing date of 8), DR A/P in 11, CR expenses in 11(using
the closing date of 11). Then reclose 8 like you said. You don't have to
open 9 or 10.
If you meant that the invoices were never posted, then go ahead and post
them in 11, your current period, and then open 8 and follow exactly as
above.
Kara Stoller
Accounting Manager
CNC Metal Products, Inc.
If I understand this correctly, all the invoices should have been posted in
period 8 but were actually posted in 11. If so, I would just open period 8
and do a journal entry to move the invoices to 11: DR expenses in 8, CR A/P
in 8 (using the closing date of 8), DR A/P in 11, CR expenses in 11(using
the closing date of 11). Then reclose 8 like you said. You don't have to
open 9 or 10.
If you meant that the invoices were never posted, then go ahead and post
them in 11, your current period, and then open 8 and follow exactly as
above.
Kara Stoller
Accounting Manager
CNC Metal Products, Inc.
> -----Original Message-----
> From: Tricia Simon [SMTP:t.simon@...]
> Sent: Wednesday, November 28, 2001 2:30 PM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Prior Period Corrections
>
> Question for all the accountant-folks on the list! :)
>
> Prepping for my first solo month-end! (UGH!) Found a handful of A/P
> invoices which were apparently captured but not posted (per Tech Support)
> with dates before our cutover. (We switched to 5.0 from a totally
> different
> system.) Just want to make sure I have the procedure correct before I do
> it! :)
>
> The items in question would have been in Period 8 had we been on Vantage
> during that period. So...
>
> 1) Re-open Periods 8, 9 and 10.
>
> 2) Run the Capture & Post using Period 8 dates to pick up these items.
>
> 3) Journal-entry the items out of Period 8 and into the current Period
> (11).
>
> 4) Re-close Periods 8, 9, and 10.
>
> 5) Process Period 11 month-end.
>
>
> Thanks all! Sure appreciate any and all help! Don't need any more
> problems...got enough as it is! :)
>
> Tricia Simon, Controller
> Riten Industries, Inc.
> 5.00.332
>
>
>
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