Hi, I am wondering if I can apply an expense (which has already been reconciled and is part of last year's closed books) to clear a bill (which is also from last year and was paid in that same year in real life). I want to apply it as a credit in order to clear the bill from the AP balance for a vendor. Is that a suitable means of clearing the bill? Or is there another way?
Hi Bookkeeper108,
It's a pleasure to see you in Community. Making changes to historical transactions can have a negative impact on your books. For this reason, I recommend speaking with an accounting professional for their expertise and best course of action. If you don't have an accountant, we can help you locate a ProAdvisor in your local area.
If you have any other questions, feel free to reach back out. We would be glad to help!
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