Credits in AR, Debits in AP
Written by admin on September 28, 2009 – 7:30 am
Twitter It!You may, for a variety of reasons, have unapplied credits in your AR account or unapplied debits in your AP account. These amounts may either partially offset other invoice/bill amounts, or fully offset them, resulting in a credit balance for a customer or a debit balance for a vendor.
Technically, these amounts should be reclassified [...]