Sudden differences in G/L accounts and A/P, A/R printed aged reports

[djegod]

As I set this new company up I have gone through each month checking always to make sure that the aged reports matched the General Ledger balances....now it is time to print the end of the year reports to go to the CPA and found them to be totally out of balance. I had some missed posting that went directly into the Account Payable or Accounts Receivable accounts. And it really wasn't hard to fix...but how and why did this all of a sudden just show up.

Is this a bug.....with these missed transactions my financials are not true for the year....this is scary...

Thanks
Donna

[bluegal]

Your situation sounds similar to what I recently encountered. At the end of December I made sure my A/R and A/P aging reports matched my balance sheet amounts. But when I went to print the reports in the beginning of February to give my accountant, the A/P aging no longer matched the GL balance. We traced the transactions back and concluded that the following happened: I selected some invoices for payment in January in A/P and posted them. I discovered I had posted the payments by mistake with a December date. I edited the payments to a January date and printed the checks. However, Peachtree still left the payments posted to the December A/P aging report, but the GL transactions were posted to January. It all balanced out eventually (after the end of January) without having to make any adjusting entries. It's just something you have to be aware of that could happen, both in A/P and A/R. I would certainly call it a glitch; since I was still in the December accounting period when this all happened, I assumed that editing a date would not cause any problems.:mad: