Removing Journal Entries in A/P Aging Detail Report

With the new year beginning and accounting teams working busily to close the prior year financials one of the biggest errors we see is offsetting journal entries stuck on your A/P Aging report. If you are posting offsetting journals that post to your Accounts Payable transaction without first adding an “A/P Clearing Vendor” you might be asking how to clean up your reporting. Below we will walk you step by step on how to clear up your A/P Aging and remove these transactions entirely. 

Steps to Create a Vendor to Utilize for A/P Clearing:

1. Navigate to List > Relationships > Vendors > New 
   
   
2. Set the following fields: 
   1. • Company Name – choose sometime clear like “A/P Clearing Vendor” to identify that it is only used for internal purposes. 
      • Subsidiary 
      • Primary Currency if you manage a multi-currency NetSuite instance. 
      
      
3. Click Save
    

Steps to Create a Bill Payment to Apply Journal Entries Against Each Other:

1. Using an Administrator role, navigate to Transactions > Payables > Pay Single Vendor 
   
   
2. On the Bill Payment page, set the following fields: 
   1. • A/P Account 
      • Account
      • Payee
      • Date 
      • Posting Period 
        
      
      
3. Click Apply tab then mark the 2 Journal Entries 
   
   
4. Click Save 

Now your A/P Aging report is clear of offsetting transactions and you can focus on open payables. 

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