Step 1- Reconcile the Trial Balance
Caution: |
Before
beginning monthly reconciliation, first go to Company
> Preferences > General
tab. In the Don’t Allow Entries Prior
To field, enter the first day of the month after the month you
are reconciling. In this way, changes cannot be made to months you have
already reconciled.
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The first step to reconciling Ajera is to verify that your overall financials
are in balance.
- Print the Trial Balance
report (Reports > Financial > Trial Balance).
Note: |
Depending on your reporting requirements, print the Trial Balance report
for Cash and/or Accrual. The report uses one column for the account balance.
Debit balances appear as positive numbers and credit balances as negative. |
- Review the Report Total.
The report is in balance if the report total is zero, which confirms that
total debits equal total credits.
- If the report is in balance,
proceed to Step 2 - Reconcile
cash accounts. Otherwise, complete the following instructions.
Trial Balance report out of balance
If your Trial Balance report is out of balance, follow these steps to
identify the cause and then correct the problem.
Ensure beginning balances are in balance
- Review the Beginning Balance
Trial Balance to determine if it is complete and in balance. Click Company > Beginning
Balances > Trial Balance.
- If the Beginning Balance
Trial Balance is not in balance, you must correct it. To determine the
correct entries, you may need to review it with your CPA.
Determine when out of balance occurred
- If you are still out of
balance, run the Trial Balance report for prior months to determine the
month when it became out of balance.
Click Reports
> Financial > Trial
Balance.
Note: |
If you need to run the report for months not listed in the Month field,
click Select Dates and select
a Through Date on or before your
beginning balance date, which is defined in Company > Preferences. |
- After you determine the
month when the out-of-balance situation occurred, run the Trial Balance
report incrementally, weekly or daily, for the out-of-balance month until
you determine the day when the out-of-balance situation occurred.
Note: |
If the out-of-balance month is in a prior year, you may need to close
the prior year again to correct the out-of-balance situation. |
To verify that your prior year is closed,
click Reports > Session
Journals. Click (Change View)
to select a date range of All.
Sort the list by the Task column and find the Company Close Year sessions.
If you printed and published your year-end financials, closing the prior
year may not be an option, in which case you will need to discuss the
situation with your CPA.
- To identify the entries
that occurred on that day, run the Ledger report for that day. Click
Reports > Financial
> Ledger.
- Review the Session Journal
reports for each of the entries listed on the Ledger report. Click Reports > Session
Journals.
- Review the General Ledger
Recap section of each session journal to ensure that the entries are in
balance (debits = credits).
If these steps do not resolve the out-of-balance situation, contact
Ajera Client Services or your Ajera consultant to discuss having Deltek analyze
your data.
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