Hi. We are in the 2020 audit finalization process and seem to be having a difference between the Accounts payable ledger account and the vendor ageing report total as on 31-12-20.
We looked through ledger and vendor account statements. There's no journal postings to the ledger account since it was locked in journal. Since vendor is not a dimension under the local payable account, we cannot see the totals by vendor.
From my understanding, vendor settlements do not cause a difference between the vendor and ledger since when a vendor is updated, its group points to the corresponding accounts payables ledger account where it is reflected.
Can you suggest any reason why vendor balances & payables ledger would not match?