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Accountts Payable Reconciliation

  • 1.  Accountts Payable Reconciliation

    Posted 20 days ago
    ​​​Hi, does anyone have any good techniques, tips, tricks to look for differences between the trade AP GL account and the aged trial balance that they could share, the GL is higher, there are no GJ batches etc?

    Any good smartlist you are using?

    Any thoughts would be appreciated.

    Thanks

    ------------------------------
    Dale McCormick
    CFO
    Havtech
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  • 2.  RE: Accountts Payable Reconciliation

    TOP CONTRIBUTOR
    Posted 20 days ago
    Edited by Shari Bruno 20 days ago
    ​Hi @Dale McCormick

    We balance AP monthly using the Purchasing Aged Historical ​Trial Balance for all vendors as of the last day of the previous month (Purchasing>>Reports>>Trial Balance>>Aged Trial Balance), and the Financial Trial Balance for the AP GL clearing account (Financial>>Reports>>Trial Balance>>Detailed).

    To balance:
    I have a SmartView that tracks the open pre-payments because they show up on the Aged Historical report and their amounts have to be added to the total of the Aged Historical report to balance with AP.

    If a difference remains I check the following:
    Administration>>Routines>>Master Posting & Administration>>Routines>>Batch Recovery. to check if there are hanging batches that might be causing the difference.
    Financial>>Transactions>>Batches to check batches that did not post. This looks at Financial batches, the Routines look at Purchasing batches.

    If none of these things resolve the difference I create a tab delimited file of the Financial Trial Balance Report for the month and have Excel conditional formatting compare the DR and CR columns and mark everything that is the same between them. What remains is what should be on the Aged Historical report.

    Because we balance these every month and have for years the actual time it takes to do it is minimal.

    ------------------------------
    Shari Bruno
    Accounting Operations Manager
    Bible League International
    Crete, IL
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  • 3.  RE: Accountts Payable Reconciliation

    Posted 20 days ago
    Thank you, we do similar but we are still out.

    Thanks again.​

    ------------------------------
    Dale McCormick
    CFO
    Havtech
    ------------------------------



  • 4.  RE: Accountts Payable Reconciliation

    TOP CONTRIBUTOR
    Posted 19 days ago

    There are some blogs on this topic:

    https://dynamicsgptipsandtraps.wordpress.com/2018/07/19/my-gl-payables-receivables-total-do-not-balance-to-my-pm-rm-trial-balance-what-to-do/

    https://dynamicsgptipsandtraps.wordpress.com/2018/07/23/fixing-the-pm-rm-historical-trial-balance/

    https://dynamicsgptipsandtraps.wordpress.com/2018/08/28/basic-balancing-and-accounting-tips/

    ------------------------------
    Bruce Strom
    Programmer Analyst
    Associated Grocers of Florida / Supervalu
    Sunrise FL
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  • 5.  RE: Accountts Payable Reconciliation

    TOP CONTRIBUTOR
    Posted 17 days ago
      |   view attached
    @Dale McCormick:

    I have attached my list of tricks. This time of year it is very easy to use the wrong year on invoice dates (3rd bullet). I would start there. The SmartList "Invoices by Vendor‐Future Date" that I mentioned ​​is setup using the basic info from the "Payables Transactions" folder. The key is the dates that you search by.

    Please let me know if you have any questions.

    Thanks

    ------------------------------
    Joni Finnell
    GP Projects/Troubleshooter
    Consumer Support Services, Inc.
    Newark OH
    ------------------------------



  • 6.  RE: Accountts Payable Reconciliation

    TOP CONTRIBUTOR
    Posted 17 days ago
    Hi @Dale McCormick​ - given you posted the same issue for Bank Rec and Payables, I suspect it's related to the issue I posted on your Cash Recon question - Someone probably either posted to the payables G/L account with a type of CASH or posted to the cash G/L account with a type of PURCH (on the distribution screen). Utilize my same suggestions on your previous post for running the Reconcile to GL utility (but in this case choose the Purchasing Module and include all G/L accounts linking to your AP subledger), or run a SmartList for the amount you are off by.

    Hope you figure it out!

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    Tiffany Ziegler
    Vice President & Controller
    Velcor Leasing Corporation
    Madison WI
    ------------------------------