RE: We recently closed our books for our fiscal year. An entry was made for a vendor for a bill we received after the close of the year, but was for work performed during that fiscal year.
Why does it matter when the work was done? Is the bill dated last year? If not, then it doesn't seem like it needs any special treatment. Typically bills are entered using the date on the face of the bill, regardless of when the vendor did their work. Or even, if the bill is sent/received very late and the vendor inappropriately predates the bill, then on the date the bill was sent or received, what is sometimes called the "discovery date".
RE: At the opening of the next fiscal year, I did a reversing entry.
I can't imagine what that looks like. What are you reversing? Why? If your books were closed, then presumably you entered the bill when received, not in the closed period/year. So, why another entry?
RE: However, the open balance for the vendor shows the credit in AP for FY2022, and a debit in FY2023 reversing the entry.
It doesn't seem helpful. If you need to pay the bill, then entering a credit seems wrong. You could apply the credit to the bill, but then you won't be able to pay it.
RE: But there is nothing there when I go into "Pay Bills".
It sounds like you already paid the bill (?). Otherwise it would appear.
RE: The numbers are fine, but it makes me crazy have these two open items.
Well, it seems if you got a bill and then paid it, and then entered a credit for it, but your vendor didn't give you a credit. If so, then the numbers probably aren't right. Is the vendor balance correct? Does the reversal impact your financial statements?
