A credit note has been sitting on a vendor account for years. The AP sub ledger and GL accounts are balanced. What is the best way to get rid of the credit note from the vendor account?
Enter an invoice, debit note or adjustment that is the reverse of the credit note. The new entry should affect the same two GL accounts as the credit note in question, but in reverse. The entry should be applied to the credit note. Ensure posting both in AP and GL to keep the subledger in balance to the GL.