Account Balancing for AR, AP, or WIP

Account Balancing

Accounts Payable

Differences

Aging vs. General Ledger
Aging vs. Open Invoice Listing

Balancing Process

A/P Detail Balancing Report
A/P Journal Transaction Balancing Report

In general, when you find an issue with accounts payable you need to run these two reports. You need to

find the month you were in balance and start with the first month you went out of balance. Change the

“TODAY” to the first and last days of that month and make sure that the general ledger account number is

the general ledger account number for your accounts payable. The first time you run the reports they will

run in “DETAIL SUPPRESS” meaning that they will give you totals be day of all the transactions for the day.

One report will give you everything that posted to the accounts payable subsidiary journal and the other

report will give you all of the transactions that posted to the general ledger accounts payable account

number. It is EXTREMELY important that you make sure you have posted everything for the month both to

the subsidiary and to the general ledger before running these reports.

Once you have the two reports printed you will compare them and find the dates that are out of balance.

Then you will run these same two reports again, putting that date in place of TODAY in both lines, make sure

the general ledger account number is correct but this time you also need to go into the fourth tab (Advanced

Options) and uncheck the Detail Suppress box. This will then give you the detail of each transaction posted

for that particular day in both the subsidiary journal and the general ledger. Compare the two reports, find

the entry(s) that is on one but not the other and if you know how to fix the issue you can move forward

otherwise place a support call and we can help you resolve the problem.

Accounts Receivable

Differences

Aging vs. General Ledger
Customer Ledger vs. Customer Statement
Customer Ledger vs. Customer Balance Inquiry
Timing Issues

Balancing Techniques

Cross Reference Rebuild

o A/R Open Item and Balances

o Balance Forward for Statements

Storage Revenue Report

o With Installment Dates

Journals

o A/R Detail Balancing Report

o A/R Journal Transaction Report

Standard Balancing Report - DM.AR.RECONCILE

o System Administration – Reports - F6

When you find an issue with accounts receivable not balancing to your general ledger here are the steps you

should follow:

1. Make sure all Journal Transactions are posted – especially cash receipt JTs.

i. General Ledger – Journal Listings – Unposted – enter period you are reconciling

2. Run the AR Aging report for the Schedule account (GL Account #) you are reconciling.

3. Run DM.AR.RECONCILE report

i. System Administration – Reports – F6 - DM.AR.RECONCILE.

ii. Enter the date range you are reconciling and the GL Account #. Never do anything
with the bottom line on the report.

iii. This report compares the AR transactions to the GL transactions that were posted in
the period and will give you a list of anything it cannot match up.

iv. You may need to send this report to Support to help you trace the items listed.

      4. If this report does not run for you – check the custom reports for ARRECONCILE.14. This is
          a custom report that may have been loaded on your system prior to us making this a
          standard report. If you are not using our standard COA you may need to use the custom
          report.

5. If neither of these reports run properly – you will have to use our two balancing reports and
do the comparison yourself.

i. Accounts Receivable – Reports

1.Detail Balancing

2. Journal Transaction Balancing

3. You need to find the month you were in balance and start with the first month you went out of balance.

Change the “TODAY” to the first and last days of that month and make sure that the general ledger account

number is the general ledger account number for your accounts receivable. The first time you run the reports

they will run in “DETAIL SUPPRESS” meaning that they will give you totals by day of all the transactions posted

for the day. One report will give you everything that posted to the accounts receivable subsidiary journal and

the other report will give you all of the transactions that posted to the general ledger accounts receivable account

                          number. Once you have the two reports printed you will compare them and find the dates that are out of balance.
        Then you will run these same two reports again, putting that date in place of TODAY in both lines, make sure
                          the general ledger account number is correct but this time you also need to go into the fourth tab (Advanced
                          Options) and uncheck the Detail Suppress box. This will then give you the detail of each transaction posted
                          for that particular day in both the subsidiary journal and the general ledger. Compare the two reports, find
                        the entry(s) that is on one but not the other and if you know how to fix the issue you can move forward
                          otherwise place a support call and we can help you resolve the problem.

If you are not posting transactions to the General Ledger with the same effective date as the AR transactions
was entered – it will throw that day out of balance. This is especially important to remember at the end of
each month and to do a proper month end cut off.

Work In Process

Work in Process Parts

One JT made each day for all entries made daily
If part is deleted from work order record is deleted
DM.WIP.JT.Parts - new report in service
Changing dates on Journal Transactions
Closed Accounting Periods
Backdating parts entries

Work In Process Labor

One JT made each day for all entries made daily
If labor entry is deleted from work order – record is deleted
DM.WIP.JT.LABOR
Changing dates on Journal Transactions
Closed Accounting Periods
Backdating labor entries

Work In Process Sublet

Entries on Work Order do not update General Ledger
General Ledger is updated through A/P entry
A/P entry and Work Order and not tied together in any way
Timing is essential
Verifying cost is essential

Deposit Accounts

Work Order Deposit Report – Perpetual – Time Sensitive
Boat Sales Deposit Report – Perpetual – Time Sensitive
Security Deposit Report – Perpetual – Time Sensitive
Special Order Deposit Report – Perpetual – Time Sensitive

Basic Month End Balancing Techniques

Financial Statement Balancing

Balance Sheet out of Balance

o Verify Trial Balance is in Balance

Verify Assets

Run Trial Balance for just Account Type 1

o Verify Liabilities

Run Trial Balance for just Account Type 2

o Verify Net Income

Run Trial Balance for just Account Type 4 & 5

Verify there is a zero balance in closing account

This will also verify what the profit should be for your consolidated income statement.

While verifying your Assets and Liabilities you find you are off you can run your Balance Sheet in Detail to

print the general ledger account numbers so that you can more easily identify that account number you are

missing and then add it to the financial statement table.

P&L out of Balance

o Verify that the substitution table is correct.

o Print the P&L unconsolidated and in detail.

o Compare this to the Trial Balance by cost center.

Daily, Weekly, Monthly, Yearly Procedures

Navigating through the system

Using GL Inquiry
Cash Receipt Transactions
Using Other Inquiries

**If at any point you run into any issues, feel free to email [email protected] for assistance.**