You can use the steps in this article whenever you need to balance out any payable documents for vendors which are already paid and whose transactions have not been recorded in Everest.
Everest Standard version 6 and above.
Follow the below step-by-step guide:
- Create a new payment journal from Accounting > Account Payable > Payment Journal.
- Enter the Vendor in the Payment Journal and it lists the open purchase invoice documents for the vendor.
- Insert a line and select Miscellaneous Payment as Entry Type and select the account you are planning to move the payable journal.
- Check both entries and save the Payment Journal.
Additionally, if there are incorrect balances from previous years you can adjust the incorrect balances for previous years.
All open payable documents/amounts that appear on the Payment Journal and Accounts Payable aging detail report should be written off using a Payment journal. This can be done in bulk using the multiple payment journal option i.e., Accounting > Accounts payable > Multiple payments.
Vendor accounts will no longer have outstanding or incorrect balances.