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    Accountingbear's Avatar
    Accountingbear Posts: 1, Reputation: 1
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    #1

    Mar 16, 2007, 05:39 PM
    Payment from year before not posted.
    I work for a small company but we got a new system. Last year there were payment
    Received but not posted to there accounts. I verified this by requesting copies of checks.
    What is the correct way to input them and not putting the payment into the checking accounting . But I guess still saying that the payment were received?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Mar 16, 2007, 07:09 PM
    Can you just go back to your 2005 financial statements and made the adjusting entry and prepare new statements? That is, higher cash, lower AR?

    Or, if that is such a huge issue, you can always just post it to 2006 if it is not a super material amount.

    But if you can, just go back and adjust the 2005 numbers.
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