Closing expense payments

June 21, 2022


Q. I have been challenged with two scenarios involving closing expenses. 1. I have a scenario where checks are given to internal departments and the checks appear on uncleared check list. They want me to void without an explanation. I explained this looks like avoidance for escheatment requirement. 2. I also have circumstances where invoices have remained unpaid after several accounting periods and I'm asked to close the expense without a reason. A. (Answered by True Partners Consulting LLC, a…

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