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Overpayment creates "Missing GL Account"

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Duy Thai Posted: Thu, Sep 20 2007 6:12 AM
A client mistakenly wrote a check for 50 cents more than the invoice.  This created an extra 50-cent entry, which caused a "Missing GL account" error, which makes the Billing (AR) GL Distribution Report unpostable, which ties up all financial statements. I am told to correct this Missing GL account error but not how and where to do it.  Thank you in advance for any suggestions.
Duy Thai San Francisco TM/BM+
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Do you have a Suspense Account in your COA and linked on the GL Tab of the Billing Program Level Set-up?  I would double-check the set-up in both areas. When the overpayment is entered it should Debit Checks to be Deposited and Credit Suspense.  The Suspense Account is a temporary holding account for transactions until they can be properly classified. You may want to consult with your accountant for more information.

HTH

 

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Duy Thai replied on Fri, Sep 21 2007 5:39 AM
I think I know what you're saying and I think it's working.  I'm crossing my fingers.  Thank you for the tip.
Duy Thai San Francisco TM/BM+
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