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.
A supplier payment where the associated invoice has not been recorded.
Looks for supplier balances that have a total debit balance at the year-end date.
"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.
A purchase invoice dated 30th June still unpaid as at a 31st December year-end date.
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.
"Quality Motors has 3 old outstanding items".