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Trying to reconcile budget to Journal Entries

  • 1.  Trying to reconcile budget to Journal Entries

    TOP CONTRIBUTOR
    Posted Jan 07, 2020 03:26 PM
    Accounting uses the Trial Balance to assign IT expenses to the internal divisions in our company.  The IT Director has a budget, but can't seem to match up his expenses there with what is showing up on the Trial Balance.  I've tried looking at the GL20000 table, but there are a bunch of offsetting amounts (credit -> Debit) which are making drilling down to the details nearly impossible.  I've tried to see if there is a way to match them up, but neither the original transaction source (ORTRXSRC) nor the Journal Entry number match up on what Accounting confirms are offsetting entries.

    All we're trying to do is help explain the expenses Accounting has recorded for IT to the other divisions, because everyone but Accounting is confused.  Any suggestions?

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    Blair Christensen
    Database Administrator
    Oppenheimer Companies, Inc.
    Boise ID
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  • 2.  RE: Trying to reconcile budget to Journal Entries

    GPUG ALL STAR
    Posted Jan 08, 2020 08:22 AM
    Hi @Blair Christensen!

    I don't think we have enough information, such as what methods Accounting uses to assign the IT expenses and what method they use to make the offsetting JE's​.

    This sounds like there may be a ton of manual work wherein Accounting finds transactions that need to be allocated and manually allocates them, which means there may be no way in GP to do this.  There IS a way if they were using actual Allocation Accounts, but from your post it seems fairly arbitrary.

    Can you explain HOW they are making the allocations and how the decisions are being made?

    It may be you could use an Excel Refreshable report and some calcs in there, potentially, but without more info that's just a guess.

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  • 3.  RE: Trying to reconcile budget to Journal Entries

    TOP CONTRIBUTOR
    Posted Jan 08, 2020 12:14 PM
    Thanks and yeah, that's what I was running into as well.  Do you know if there are documented ways we should be handling these kinds of entries which might make such reconciliation easier (if it is even possible)?

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    Blair Christensen
    Database Administrator
    Oppenheimer Companies, Inc.
    Boise ID
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  • 4.  RE: Trying to reconcile budget to Journal Entries

    GPUG ALL STAR
    Posted Jan 08, 2020 04:27 PM
    Hey @Blair Christensen

    It depends on the parameters.  If they can be concisely defined then Allocation Accounts are great.  If it is more arbitrary and required Accounting having "eyes on" with manual decisions then it is really difficult to establish a reconciliation that can be done later.​

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  • 5.  RE: Trying to reconcile budget to Journal Entries

    TOP CONTRIBUTOR
    Posted Jan 10, 2020 11:25 AM
    Thanks for the suggestions.  We've looked at this for three days now and just can't see any way to make this work.

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    Blair Christensen
    Database Administrator
    Oppenheimer Companies, Inc.
    Boise Idaho GPUG Chapter Leader
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