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August 09, 2017

Sage 300 CRE: How do I reconcile Accounts Payable to General Ledger using reports?

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Product

Sage 300 CRE

Description

  • How to reconcile Accounts Payable with General Ledger.
  • My Accounts Payable Aging doesn't match my General Ledger Balance.
  • What steps do I take to do a reconciliation between Accounts Payable and General Ledger.

Resolution

  • Overall Reconciliation Procedures .
  • Batch by Batch Reconciliation Procedures To identify in which batch a discrepancy
  • Entry by Entry Reconciliation Procedures To identify in which entry a discrepancy

Note:

  • Before you begin reconciling Accounts Payable to General Ledger, post all entries in both Accounts Payable (Tasks , Post Invoices) and General Ledger (Tasks, Post Entries).
  • Verify that both General Ledger and Accounts Payable are in balance on their own. Refer to article ID 17736 "How do I reconcile General Ledger if it is out of balance?" and article ID 35251 "How to reconcile Accounts Payable to Accounts Payable?"

Overall Reconciliation Procedures

  • Print the Period End Report for AP Accts report as follows:
    1. From the Accounts Payable Reports menu, select GL Reconciliation, Period End Report for AP
    2. In the Period end cut-off date box, enter the period end date for the period that you want to
    3. Click Ranges, make a note of all the account numbers, and then click
    4. Click Start to print the report to a file or
    5. Make a note of the total in the Accts Payable Balance As Of [Period End Date] column for each accounts payable.

•      If you use retainage, print the Period End Report for RP Accts report as follows:

  1. From the Accounts Payable Reports menu, select GL Reconciliation, Period End Report for RP
  2. In the Period end cut-off date box, enter the period end date for the period you want to
  3. Click Start to print the report to a file or
  4. Make a note of the total in the Ret Payable Balance As Of [Period End Date] column for each retainage payable

•      Print your Year-to-date Ledger as follows:

  1. From the General Ledger Reports menu, select Year-to-date
  2. Select the Modify date range check
  3. Enter the beginning and ending date of your period in the Start date and End date boxes,
  4. Click Ranges, select the accounts that you noted in steps 3 and 2.3 above, and then click OK.
  5. Click Start to print the report to a file or
  6. Make a note of the ending balances for each
  • Compare the payable account totals from Accounts Payable to the ending balances for each payable account. Make a note of any accounts where the total in Accounts Payable does not match the balance in General
  • If there are no differences, GL and AP are in
  • If there are differences, follow the above steps going back one month at a time until you find the last month you are in balance.

 

Batch by Batch Reconciliation Procedures:

  • In General Ledger, print the Totals by Batch report as follows:
  1. From the Reports menu, select Entries, Totals by
  2. Select GL Transaction (current} and GL Transaction (history} (if a history file is available), and then click
  3. Click
  4. Under Field, select Accounting
  5. Under Operator, select Greater or equal
  6. Under Value, enter the first day of the month you are reconciling (for example: 05/01/14).
  7. Click OK, and then click
  8. Under Field, select Accounting
  9. Under Operator, select Less or equal
  10. Under Value, enter the last day of the month you are reconciling (for example: 05/31/14).
  11. Click OK, and then click
  12. Under Field, select
  13. Under Operator, select Equal
  14. Under Value, enter one of the payable accounts that you want to investigate further.
  15. Click OK
  16. Click Start to print the report to a printer.

•      In Accounts Payable, print the Entries by Batch for AP Accts report and the Entries by Batch for RP Accts report. Print both reports for each payable account as follows:

  1. From the Reports menu, select GL Reconciliation, Entries by Batch for AP Accts (or Entries by Batch for RP Accts).
  2. Select AP Transaction (current} and AP Transaction (history} (if the history file is available), and then click

OK.

  1. In the Accounts payable account (or Retainage payable account) box, enter the same account used in the condition on the General Ledger Totals by Batch report (above).

Tip: If your Accounts Payable account is too long to fit in this box, refer to article ID 17707 "The Accounts

Payable Entries by Batch for AP Accts report only allows 10 digits in the Accounts Payable account box" below for steps to modify the report to accommodate your account number.

  1. Click Conditions, and then click
  2. Under Field, select Accounting
  3. Under Operator, select Greater or equal
  4. Under Value, enter the first day of the month you are reconciling (for example: 05/01/14).
  5. Click OK, and then click
  6. Under Field, select Accounting
  7. Under Operator, select Less or equal
  8. Under Value, enter the last day of the month you are reconciling (for example: 05/31/14).
  9. Click OK
  10. Click Start to print the

Note: To reconcile multiple accounts payable accounts or retainage payable accounts, condition and print the General Ledger Totals by Batch report for each account number separately. Do not add any other conditions or ranges and ignore any amounts in the Batch Proof column.

Compare the General Ledger Totals by Batch report and the Accounts Payable Entries by Batch reports for each account. Compare each batch until you find a batch with a discrepancy.

  • If you find a batch where the debits and/or credits do not match, make a note of the batch and the difference and continue with the Entry by Entry Reconciliation Procedures below to find out which entry caused the
  • If you do not find a batch with a discrepancy, then the discrepancy has carried forward from a previous Repeat the Month by Month Reconciliation Procedures and Batch by Batch Reconciliation Procedures to identify the month and batch where the discrepancy originates.
  • Tip: The Record Manual Checks task creates batches in Accounts Payable, but does not send a batch to the accounts payable account (or retainage account) in General Ledger if the invoice and manual check have an accounting date within the same

 

Entry by Entry Reconciliation Procedures:

When you identify the batch with the discrepancy, compare the Accounts Payable Entries in Detail reports to the General Ledger Entries by Account report to find the discrepant entries. If the discrepant batch appears on both the Entries by Batch for AP Accts report and the Entries by Batch for RP Accts report, then print both the Entries in Detail for AP Accts and the Entries in Detail for RP Accts reports as follows.

•      In Accounts Payable, print the Entries in Detail reports as follows:

  1. From the Reports menu, select GL Reconciliation, Entries in Detail for AP Accts (or Entries in Detail for RP Accts).
  2. Select AP Transaction (current} and AP Transaction (history} (if a history file is available), and then click
  3. In the Accounts payable account or Retainage payable account box, enter the appropriate payable
  4. Click Conditions, and then click
  5. Under Field, select Accounting
  6. Under Operator, select Greater or equal
  7. Under Value, enter the first day of the month you are reconciling (for example: 05/01/14).
  8. Click OK, and then click
  9. Under Field, select Accounting
  10. Under Operator, select Less or equal
  11. Under Value, enter the last day of the month you are reconciling (for example: 05/31/14).
  12. Click OK, and then click
  13. Under Field, select
  14. Under Operator, select Equal
  15. Under Value, enter the batch number with the discrepancy you found in the Batch by Batch Reconciliation Procedures
  16. Click OK
  17. Click Start to print the report to a file or

•      In General Ledger, print the Entries by Account report as follows:

  1. From the Reports menu, select Entries, Entries by
  1. Select GL Transaction (current) and GL Transaction (history) (if a history file is available), and then click
  2. In the Accounting Date From box, enter the date of the first day of the month you are reconciling (for example: 05/01/14).
  3. In the Accounting Date To box, enter the date of the last day of the month you are reconciling (for example: 05/31/14).
  4. Click Conditions, and then click
  5. Under Field, select
  6. Under Operator, select Equal
  7. Under Value, enter the appropriate payable
  8. Click OK, and then click
  9. Under Field, select
  10. Under Operator, select Equal
  11. Under Value, enter the batch number with the discrepancy you found in the Batch by Batch Reconciliation Procedures
  12. Click OK
  13. Click Start to print the report to a file or

Compare the Accounts Payable Entries in Detail reports and the General Ledger Entries by Account report for each entry until you find a discrepancy. Determine the correction that you need and use Record Entries in General Ledger to make the appropriate correcting entries.

 

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