So it seems that there is a disconnect between the AP lists and the AP control account in the GL, in that an AP list as of a certain date is invoice date sensitive but the GL Control balance is period sensitive. ie. if you have an invoice dated June then it doesn't appear on your May AP list, but if you posted that invoice into period 5 (assuming fiscal=calendar) then you're out of step.

What are folks doing out there? Putting fake invoice dates to match the period? Ignoring the fact that the AP lists only match the GL if you use a future date? Just allowing the AP invoice dates to choose the GL period regardless of when the goods/benefit were received?

Thanks for any input on this.

Hi Hugh

I could give a lengthy explanation, but let's wait until the next version of Payables comes out (probably before the end of the year). In the new version there will be an "accounting date", which I think will solve your issue. To learn how that will work, take a look at Receivables, which currently has that concept.

Steve

For our client group we advise entering the invoice in AP using the date that appears on the invoice and letting the Ledger auto assign to the correct period based on the invoice date. This ensures that the Ledger and AP are always in sync. Also, we ensure that the account in Ledger is restricted to the AP subledger.

Thanks for the input gents... sounds like I'm not the only person with this issue so I guess I'll just suck it up and hopefully the new release will have that accounting date feature.