Problem: I have Payable balance and Advance Paid to the same company both of the document are entered in previous period and I cannot change them, and Advance is represented as Mutual Settlement?
Solution:
1) Suppose that COMPANY AERO has payable balance (Invoice Received from closed period) and Advance Paid represented as Mutual Settlement, these two documents need to be adjusted with each other:
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In Register Content Settings in Accumulation Register select Accounts Payable:
In order to fill the line you need to check Advance Mutual Settlements record:
The Content should be the same that you've checked in Mutual Settlement Records, but Instead of Expense it will be reversal Receipt Type:
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Contract - Company contract (Copy from Mutual Settlement)
Document - Mutual Advance Mutual Settlement
Is Loan - No
GL Account - Prepayment to Suppliers (Copy from Mutual Settlement)
Amount - Amount should be equal to the amount entered in Mutual Settlement
3) In order to create the GL entry open Transactions (General Ledger) in Accounting section and create a new one:
In Dr column select Owner's Current account (BS Capital Issued) and in Cr column select Prepayments to Suppliers (BS Trade and Other Receivables) or other GL account that was select in Accounts Payable Tab of Mutual Settlement document:
4) In Statement of Mutual Settlements you'll have Payable amount on this Company's accountclosed:
And the following transactions will be in Trial Balance as a result:
