Creditors - Review Points

Checkmybooks looks for issues with supplier balances and outstanding transactions and produces 2 types of Review Points.

Negative supplier balances

Looking for supplier balances that have a negative (debit) balance at the year-end date.

Example
A supplier payment where the associated invoice has not been recorded.

Check Details
Looks for supplier balances that have a total debit balance at the year-end date.

Typical Description
"Mears Insurance has a negative balance".

Old outstanding supplier transactions

Looking for supplier transactions that have been outstanding (unpaid/unmatched) for a long time at the year-end date.

Example
A purchase invoice dated 30th June still unpaid as at a 31st December year-end date.

Check Details
Looks for supplier transactions that are have been outstanding for longer than a specified number of days [that you can change] counting back from the year-end date.

Typical Description
"Quality Motors has 3 old outstanding items".

Review Point categories