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Balance sheet not balancing with aged payables report

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Experienced User icehorse5
19 Posts
Experienced User
Australia
icehorse5
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Balance sheet not balancing with aged payables report

The Aged Payables report at 30/6/18 shows  a different amount to what is on the Vendors Payable Control on the Balance Sheet at 30/6/18 shows.  Why would there be a difference?

 

Thank you.

6 REPLIES
Ultimate Partner Mike_James
3,785 Posts
Ultimate Partner
New Zealand
Mike_James
Ultimate Partner

3785Posts

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Re: Balance sheet not balancing with aged payables report

Hi @icehorse5, the aged payable report includes all open bills in the file. The Payables reconciliation report is the one you need.


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)

Experienced User icehorse5
19 Posts
Experienced User
Australia
icehorse5
Experienced User

19Posts

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Re: Balance sheet not balancing with aged payables report

My accountant asked about it and this was my understanding as well. I just needed confirmation. Thank you so much for responding so quickly Smiley Happy

PaulaCapp
2 Posts
Cover User
Australia
PaulaCapp
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Re: Balance sheet not balancing with aged payables report

Hello,

 

I was wondering why these two reports are different.  Can you please explain....

Ultimate Partner Mike_James
3,785 Posts
Ultimate Partner
New Zealand
Mike_James
Ultimate Partner

3785Posts

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Re: Balance sheet not balancing with aged payables report

Hi @PaulaCapp, the aged payables report will include all open (unpaid) bills in the file when you run it, regardless of the date entered, which is just for aging purposes. 

 

The payables reconciliation report will report all bills which were open on the date you enter, and will therefore normally agree to the balance sheet payables account at the same date. In short, this report can be back-dated, the aged payables report can't be.


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)

PaulaCapp
2 Posts
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Australia
PaulaCapp
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Re: Balance sheet not balancing with aged payables report

Thanks for that.  I eventually figured that out.  Bit dumb, but nevermind!

Ultimate Partner Mike_James
3,785 Posts
Ultimate Partner
New Zealand
Mike_James
Ultimate Partner

3785Posts

1594Kudos

466Solutions

Re: Balance sheet not balancing with aged payables report

Hi @PaulaCapp, I normally suggest people do not use the aged payables report. Sometimes people will want all open bills, so I tell them to run the reconciliation report dated for the end of the current month, ie ahead of now. That way they get a report properly aged and reconciled, with bills which have been paid in the current month excluded.


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)

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