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Applying open AR in Historical Year

  • 1.  Applying open AR in Historical Year

    Posted Jun 18, 2019 01:51 PM
    Good afternoon!

    I tried searching prior to posting, but couldn't return anything based off of all of the search terms I tried.

    I have found some instances with cash being received and showing as partially partially applied in 2018 (which is already a historical year for us).  I was uncertain what may happen if I open up sales for Dec 18 to mark the missed invoices as paid.  Nothing is being added or changed regarding the deposit amount or the cash receipt, just the payment application side.

    Do you guys know if it's safe to open the period just to apply the payment?  I know I could reverse the closing and fix it, but it sounds like a lot just to apply some missed payment applications.

    Thank you for your help!

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    Katrina Butler
    Corporate Sr. CIP Specialist
    Human Technologies
    Greenville SC
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    Conference-GPUG_200x200


  • 2.  RE: Applying open AR in Historical Year

    TOP CONTRIBUTOR
    Posted Jun 18, 2019 02:10 PM
    Hi Katrina,

    These transactions involved - would they be multicurrency (MC) transactions? Applying MC transactions usually generate gains/losses...

    Aside from that, since you're dealing with apply records, these will have an effect on the Historical Aged Trial Balance report too.

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    Ryan Galang
    BTP Technologies LLC
    Chantilly VA
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    Conference-GPUG_200x200


  • 3.  RE: Applying open AR in Historical Year

    Posted Jun 18, 2019 02:16 PM
    No MC transactions!

    I knew it would change the HATB, but is that it?

    I don't know of a way around it because I don't want to change to apply date.  I usually don't do AR, but I'm trying to fix some items for the finance director.

    ------------------------------
    Katrina Butler
    Accounting Specialist
    Human Technologies
    Greenville SC
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    Conference-GPUG_200x200


  • 4.  RE: Applying open AR in Historical Year

    TOP CONTRIBUTOR
    Posted Jun 19, 2019 05:17 AM
    @Katrina Butler, you will be fine. Since there are no MC transactions there won't be JE's automatically generated, so your GL will not get changed. Basically all you are doing is taking unapplied transactions and applying them, so your HATB will only change as far as items showing applied. The overall total will not change. Even though there will not be any entries created, you must open the posting period for period 12. As soon as you are finished with your task, remember to close that period back up again.

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    Barbara Gavron
    Atlantic Beach / Jacksonville FL
    904-536-0129
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    Conference-GPUG_200x200


  • 5.  RE: Applying open AR in Historical Year

    Posted Jun 19, 2019 07:46 AM
    Thank you, Barbara!

    That's exactly what I had assumed, but then I figured I had better seek other experiences just to make certain!!

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    Katrina Butler
    Corporate Sr. CIP Specialist
    Human Technologies
    Greenville SC
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    Conference-GPUG_200x200


  • 6.  RE: Applying open AR in Historical Year

    TOP CONTRIBUTOR
    Posted Jun 30, 2019 09:07 AM
    This is an old discussion, but I think that in the GL there are current and historical years, but in RM and PM, you can have prior year's transactions in your open file, so there really isn't any "historical" years in the subsidiary modules, there are simply transactions that have been paid and which are still owed.

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    Bruce Strom
    Programmer Analyst
    Associated Grocers of Florida / Supervalu
    Sunrise FL
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    Conference-GPUG_200x200


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