I have 42 accounts that will not close. They all have the same problem, and I cannot figure out how we got here...
Last month was our first month running statements from HQ instead of Store Ops. We imported customers into Store Ops in October. All customers had an account type of 90 Days Same as Cash. We started with HQ in January. Conincidentally, the first statements we ran in HQ were the first statements that should have triggered finance charges.
Finance charges were not assessed. My bookkeeper went in and adjusted 42 accounts to apply finance charges. Now these 42 won't close.
What's more, when you look at the Account Information tab for one of these customers, the entries look like this:
Date Transaction Reference Amount Run. Balance
3/14 Acct Pmt 1411 ($189) $0 2/15 Acct Pmt 1149 ($200) $189 1/24 Adjustment 3032 $20 $389 12/31 Adjustment 2431 $20 $369 11/22 Adjustment 1401 $20 $349 11/7 Adjustment 1034 $20 $329 10/7 Adjustment 139 $289 $309See that last (well, first) entry? The imported balance was $289, but the running balance is off by $20.
The closing date is 2/24 and the closing balance is $169. The A/R balance on 2/24 is $189. Discrepancy. No statements.
How do I resolve this? The A/R balances are correct. The closing balances are wrong.
Anything you might offer would be greatly appreciated.
Tom
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