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Recording a Credit , With Zero invoice balances

Hebah Saddique's Profile

In Jan we switched over from 1 provider to the other for our health insurance, and still kept original vendor for dental and vision.

We paid the Jan Bill in full during Dec, and got a credit on the first bill for just dental vision. That carried lasted until May.

The accountant before me didn't record any of the invoices that came in from Jan to May with a 0 balance (paid by credit) - Which is wrong.

Questions is: Do I go back to the beginning of the year to make the adjustments? Or do we add it in via JE as I'm closing Q3?

Answers

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

This is a question you should ask your outside accountant/auditor.

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