Hi Joe,
Thanks for your detailed answer. This is very helpful.
Mitch
1 03/14/2009 12:16:03 am
Re: Purchase Order & Adjustment of Entries question (11 replies, posted in Accounts Payable)
2 03/13/2009 08:41:14 pm
Re: Purchase Order & Adjustment of Entries question (11 replies, posted in Accounts Payable)
Hi Joe,
Thanks for your answer. I probably should have been more specific. How does the system handle the following scenario? Let's say I enter a purchase order into the system, and that purchase order has a date that is in the past. The past date on the purchase order falls onto a time frame for which I have already closed the books (year end or quarterly). Will the JE then adjust the quarter that had already been closed by adding journal entries into the past records, or will the JE reflect the change in the in the current time frame with the appropriate adjustment to the current time frame. It becomes a question of reconciliation I suppose. I hope that this is a more precise question. Thanks again for your help.
Regards,
Mitch
3 03/11/2009 11:47:04 pm
Topic: Purchase Order & Adjustment of Entries question (11 replies, posted in Accounts Payable)
Hi folks,
I have a question concerning the posting of purchase orders in the system. Does the software handle the adjustment of journal entries when a purchase order is entered for a time period which has already been closed? Thanks in advance for your help.
Mitch