I have Purchase order from Jan 2021, transaction from Banking were reconcile but never enter the bills. Now we have a whole month of open POs. So payment were recorded. What do I do with this open POs? I know they do not have effect on FS. Should I just close them?
Follow-up question. If bill and payment from POs from prior month were recorded in the current month. What is the effect of our book. Remember this prior month POs the payment where recorded in that month and the book was reconcile. Thank you.
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