I didn’t customize the /Suppliers/purchase invoice accounts and opened accounts payable a/c by way of the chart ofaccounts . I have now realised the effect as I was aquainting myself with the programme .how do I rectify this anomaly
It is not clear what your problem is. Can you please provide more information? It is not possible to open Accounts payable from the chart of accounts. Do you mean from the Summary? If you have no suppliers, that should be empty…unless you have transactions in Suspense.
Describe exactly what you have been doing and what you see. What is this so-called “anomaly?” I think you have just been using the program in ways it is not designed for. If you have entered transactions through incorrect procedures, you will have to find them and edit them to correct or delete them and put them in correctly.
Very briefly, accounts payable should be generated by creating purchase invoices with individual suppliers. Read about this in the Guides. Then, if you have specific questions, provide details so someone can help.
Can I suggest before you do anything, re-name your existing COA accounts payable so to eliminate any confusion - you could prefix it with Old. Also, can you advise how you have been processing suppliers invoices, just to make sure that any suggestions will work.
Depending on how much data is involved and how long you have been doing it that way?
If not a lot or you are very patient, then you could re-start by setting up the suppliers, take up the opening balances (read the guides for how) then re-enter the data. Once that is complete - the two account payable accounts should be equal - then delete the transactions in the COA accounts payable and then delete the account itself.
Alternatively, if that is to burdensome, then do a detailed reconciliation of the (old) accounts payable so you have a complete understanding of how the balance is made up - this would mean suppliers name, invoice number, invoice amount. Then set-up the suppliers. By doing journal entries you can transfer the individual amounts that make up the reconciliation.
In the journal Debit (old) accounts payable and Credit accounts payable, but you must also complete the sub-account data - ie Supplier. If you don’t do this sub-account you will end with posting to the Suspense Account.
Before anything do a back up.
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Ahhhh. Perhaps @Brucanna has perceived what you have been doing, @Ronald_C_Niles. Is he correct that you created a brand new Accounts Payable account in the chart of accounts, ignoring the built-in capability? If so, his remedies should correct your situation.
I see you just joined the forum 3 months ago. Depending on how many entries you have made, you might consider actually starting over. You can create as many businesses as you want. If you create a new business, first go to the Customize link in the left navigation pane and activate those features you think you will need. In many cases, control accounts and specific linked accounts will be created automatically. Associated reports will become available. Then set up your chart of accounts and opening balances. Then add known customers and suppliers (you can use the batch update feature if there are a lot).