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Best Practice to load open AP and AR transactions after go-live?

in Ask A Guru 11 comments

We went live on NetSuite on 5/1/24. The historical trial balances were loaded at a summary level. For the open AR and AP transactions as of 4/30/24, what is the best practice?

I was thinking that a clearing account for AP and AR would be a viable option versus entering them to the respective revenue and expense accounts? I want to avoid any issues on the balance sheet and income statement.

Thoughts?

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