The report does noes not show Payments in the current year which have been allocated to invoices in the future. A key audit and accounting check is to reconcile control accounts. If payment has been allocated to a future dated invoice, the retrospective report does not show the payment on a/c. eg payment dated 27/03/16 for £500 invoice dated 05/04/16 for £500 As at 31.03.16 the balance on the creditors should be -500, currently the report does not show a balance at all. Therefore the aged creditors will not agree to the Creditors Control a/c It is very difficult for users to find these types of transactions when reconciling the control a/c
Saeed Malik
