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Differing Doc Date vs. Posting Period

  • 21 December 2023
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I am posting this to see if there is any consensus about how other companies are handling the following circumstance.  Welcoming all ideas.

 

We frequently see a situation where AP invoices flow into a company with dates from the prior period after the prior period was closed.

Example:  November Closed:  Vendor’s bill arrives by mail on 12/03 with an invoice date of 11/29.

I believe there are two options here:  

  1.  Date the invoice differently (like 12/03 (representing the time it was received) and post it into the 12-2023 period.
    This will keep your GL account and your Aged Period Sensitive Report in balance.
  2. Date the invoice with 11/29 and change the posting period to the OPEN 12-2023 period.
    I believe this will automatically create a difference between your Aged Period Sensitive Report and your GL balance in November.  Making it impossible to balance AP vs. the GL at EOM.

Many companies have a policy of entering the A/P Bills only using the date on Vendor Invoice.  This makes Option 1 impossible from a policy standpoint.

From a technical/balancing standpoint, I’m in favor of Option 1 :-)

 

 

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Best answer by Laura02 21 December 2023, 20:23

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Laura02
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I believe there are two options here:  

  1.  Date the invoice differently (like 12/03 (representing the time it was received) and post it into the 12-2023 period.
    This will keep your GL account and your Aged Period Sensitive Report in balance.
  2. Date the invoice with 11/29 and change the posting period to the OPEN 12-2023 period.
    I believe this will automatically create a difference between your Aged Period Sensitive Report and your GL balance in November.  Making it impossible to balance AP vs. the GL at EOM.

 

Hello @mlupro ,

Using option 2 does not create any difference between the AP Aged Period Sensitive report and the GL. 

When date 11/29 and Post Period 12-2023 is entered on a document, the AP Bill will appear on AP Aged Period Sensitive report in Dec and in GL in Dec (assuming it’s not paid by the end of Dec).  Acumatica Period Sensitive reports are used for GL reconciliation and are designed to tie to the GL.

 

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
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Thank you Laura:  That was a better answer than I was expecting.

Does your answer vary depending on whether the Aging is by Doc Date or Due Date?

Thanks, Mike

Laura02
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Hi @mlupro ,

I’m happy you are pleased with the outcome of your question.

The most important aspect is, use the Period Sensitive reports when reconciling to GL.  Other Aging reports that don’t have “Period Sensitive” in their names could have different results when comparing to GL. For example, I’m not sure a “Coming Due” aging will match the GL as of a prior period end; Coming Due report serves a different purpose.

I expect the Period Sensitive reports will match GL both when aged by Doc Date and by Due Date -- the documents may fall into a different aging column when using Doc Date vs. Due Date.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
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The inability to handle the proper entry, processing and reporting of invoices dated in a closed period is deficiency in Acumatica.

 

Just to restate the issue; On July 5th you receive from the vendor dated June 25th with a due date of July 25th and June has already been closed.  This methodology can cause confusion with the vendors on the AP Check stub.

 

The current best way to handle the AP Bill entry is to enter a Document Date of July 5th, resulting in a posting period of July and to manually override the Due Date with July 25th.

 

A clearer approach would require a functional change or customization to Acumatica:

  1. Have two date fields on the AP Bill screen:
    1. Invoice Date
    2. GL Distribution Date
  2. The Post Period field would be based on the GL Distribution date
  3. The Due Date would be based on the Invoice date
  4. The following Inquiry screens should have the option to be run based on either the Invoice Date or GL Distribution date:
    1. Vendor Details
    2. Vendor Summary
  5. The following Inquiry screens should be based on the GL Distribution date:
    1. Discrepancy by Account
    2. Discrepancy by Vendor
    3. Discrepancy by Document
  6. The following Reports should have the option to be run based on either the Invoice Date or GL Distribution date:
    1. AP Balance by Vendor
    2. AP Aging
    3. AP Aging Period-Sensitive
    4. Vendor History Summary
    5. Vendor History
    6. AP Edit
    7. AP Edit Detailed
    8. AP Register
    9. AP Register Detailed
    10. AP Batch Register
    11. AP Batch Register Detailed
  7. The following Reports should be based on the GL Distribution date:
    1. AP Balance by GL Account
  8. Screens and Reports that currently show the AP Bill Invoice Date should also show the AP Bill GL Distribution Date

 

You may vote for this on the following link:

 

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