Created
November 20, 2023 08:11
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Go Live with Clearing Accounts and open AR / AP
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Bank Balances Clearing: (debit balance if positive, credit balance if negative) | |
Statement Balance - credit BB clearing, debit the outstanding receipts account | |
OR | |
Statement Balance - debit BB clearing, credit the outstanding payments account | |
There will be debits left in the BB clearing, based on uncleared Customer deposits | |
credit BB clearing, debit the outstanding receipts account | |
There will be credits left in the BB clearing, based on uncleared Vendor payments | |
debit BB clearing, credit to outstanding payments | |
BB clearing should now be empty | |
Customer Invoices: | |
AR Clearing - Debit balance based on Invoices | |
AR - Debit balance based on Invoices, counterpart is the AR Clearing account, which will credit the debit created by the TB import | |
AR clearing should now be empty | |
Vendor Bills: | |
AP Clearing - Credit balance based on Bills | |
AP - Credit balance based on Bills, counterpart is the AP Clearing account, which will debit the credit created by the TB import | |
AP clearing should now be empty |
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