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AP Period close

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edited Nov 1, 2021 8:50AM in Payables, Payments & Cash Management 4 comments

Summary: AP Period Close Question


Content (required):

If we are closing AP period before GL period. In between AP closed status and GL still open status, if we are canceling invoice line which is in the closed AP period, will there be reconciliation issue?

If AP period is closed, the reversal entry for cancelled line will be there in the closed month or the open month?

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