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working on adjusting entries and was wondering how to make adjusting entries on A/R and A/P accounts? General journal isn't enough detail to adjust those accounts.
Hi Ashley!
Adjustments to accounts payable and accounts receivable need to be entered through the transaction entry screen at this point in time. This is because you will need to attach a customer or a supplier to the transaction to make sure all the journals remain in balance.
That being said, you may wish to hold off on this entry for just a little bit longer. The 2016-04 version of AgExpert is coming up, and one of the features being introduced is the ability to post general journal entries for accounts receivable and accounts payable through the general journal screen! We're very excited about this feature and how it is going to make year end journal entries a LOT easier to handle!
If you wish to continue the entry right now, go through the transaction entry screen as a Receivable Charge or a Payable Charge. However, if it can wait for a couple of weeks, the best option is to install the update when you get the notification and do the entry at that time.
If you want further assistance with the entry through the transaction screen, though, feel free to pop us an email with more specifics (such as accounts numbers and debit/credit amounts), and we can definitely walk you through how to make the entry.
I hope this helps!