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Former Member
Jan 24, 2013 at 09:29 PM

My G/L Account Balance for Open items is different than the Cumulative Balance


I have not had much FI experience but have come across this problem. It appears that there are Cleared documents on the G/L Account Balance that also have balances. So, when you look at the Open items balance there is difference. Here is an example of what we are seeing. We received an invoice. Debited the Vendor Account. Credited the Accounts Payable account. Then Credited Cash Discount account. However, we took too much discount. Therefore, we debited the overage of the discount from the Cash Discount Account.

Now, the Cash Discount Account Open balance is different from the Cumulative balance by the amount of the overage. The original invoice and accompaning documents are cleared. How do we balance the two again?