does open vendor invoices report tie to GL?

Hi Everyone,

Does open vendor invoices report tie to GL?

 

Thanks

  • Hi SM,

    If its posted then its tie to GL. 

     

    Regards,

     

  • Hi SM,

    In the perfect world, the PM, RM, FA, etc. sub-ledgers will always reconcile to the GL. However, we do not live in a perfect world, so we have to take the initiative to learn and maintain the balances between the sub-ledgers and the GL so that they do remain in sync.

    In re: to your question about vendor invoices reconciling to the GL, you should be using the PM Historical Aged Trial Balance to reconcile you open invoice balance to the Accounts Payable balance in your GL. This can take some time to become familiar, but they should always tie assuming all batches have been posted successfully.

    Thanks,

    Nick
  • To be sure it ties perfectly, because most other accounting systems will tie out exactly, you have to be sure whenever you are doing any A/P entry, void, payment, adjustments that your GP screen date below is the same as your invoice date, payment date, etc. I figured this out and now I tie out perfectly. Not sure why you would need to do this, its just the way GP is designed.
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