Receivables & Payables Out of Balance
Hi I have searched your forum for an answer to my question and have found the following answer (*next paragraph). My predecessor has not reconciled anything from 2010 onwards (except for the ban...
Forum Discussion
The main reason that these reports are out of balance is usually due to a payment being made prior to the actual invoice date - to adjust you need to make the invoice date prior to the payment or the same day.
You are doing all the correct things - looking at the data auditor.
Does the out of balance amount remain the same? if it does can you run the report from some time prior to 2010 to see if it was ever in balance.
If the out of balance amount changes then there are probably mutiple errors to be corrected.
As you say if these reports are checked , even at the end of the financial year prior to going to the accountant it could easily be fixed at the time.
Hope this helps some
Lisa
