account payable and accounts receivable in journal

Val_9014602
Val_9014602 Member Posts: 4 Novice Member Novice Member
edited October 2024 in Accounts Hosted
End of Year Journal Entry - Won't accept both A/P & A/R entries.
NB: Large value for each that don't relate directly back to either debtor or supplier.
Also this company has been sold so this is a final alignment.

Comments

  • John Graetz
    John Graetz Member Posts: 1,663 Reckon Star Reckon Star
    edited July 2020
  • Linda ABC
    Linda ABC Accredited Partner Posts: 1,133 Accredited Partner Accredited Partner
    edited June 2019
    another alternative is just create an Other Current Asset and Call it Debtors Adjustment and an Other Current Liability for Creditors Adjustment and journal like that?
  • Val_9014602
    Val_9014602 Member Posts: 4 Novice Member Novice Member
    edited June 2019
    Thanks John, Linda, I'll do that.
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