In this section, you will verify your payable “Out of Balance Amount” is zero.
Note: Keep in mind that the KW model is that the Market Center's Payables should be zero at the end of the month. Our Market Centers are expected to pay their bills on time.
- In AccountEdge, click the drop-down arrow next to Reports and select Purchases.
- From the Sales tab select Reconciliation Summary under “Payables”
- Click Customize.
- Confirm the date is the end of the current Accounting month.
- Click the Finishing tab.
- Check “Include $0.00 Balances.”
- Click Print or Send (to PDF).
- Confirm the “Out of Balance Amount” equals zero.
If the “Out of Balance Amount” does not equal zero, keep backdating the Reconciliation Summary until you find the day the error occurred. Print to screen a “General Ledger Trial Balance Detail” for the account “Accounts Payable” for this day and focus on the entries made on this day to find the error and correct it. The General Ledger Trial Balance Detail Report is located under the Accounts tab of the Index to Reports.
Possible reasons why your “Out of Balance Amount” would not equal zero include:
- You accidentally created a Journal Entry coded to Accounts Payable.
- If neither of these explains your issue, please send an email describing the issue to MCASupport@kw.com.