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Nick_McDonald's avatar
Nick_McDonald
User
10 months ago
Solved

Clear off small balances in AR / AP ledgers

Hi.,  I am new(ish) to MYOB.  10+ years on SAP, 5 years on NetSuite. Now I am learning MYOB.    We have some 1 cent balances on clients and suppliers in the AR and AP Sub-Ledger. How can we clear t...
  • Celia_B's avatar
    Celia_B
    10 months ago

    Hi Nick_McDonald,

     

    Thank you for your post and welcome to the Community Forum. 

     

    Thank you for flagging this to us. And we would like to thank DuncanS  for sharing insights into this issue. Aside from DuncanS suggestion, if it is a few cents, you have two options. Adjust the invoice amount by a few cents to match the payment, to close it off. Alternatively, establish a debit note for the customer for those extra cents and then apply to the client's invoice to close off. We also suggest that you consult with your accounting expert on the account and tax code during the procedure. 

     

    Please let me know if you need further assistance with this, We are happy to assist you. 

     

    If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.

     

    Kind Regards, 

    Cel