Step 5 - Reconcile work-in-progress accounts

Ajera automatically creates financial entries to your Work-in-Progress (WIP) accounts when you perform tasks through these menu options:

• Manage > Time & Expense
• Manage > Vendor Invoices
• Manage > In-house Expenses
• Manage > Client Invoices

Selecting your Work-in-Progress accounts when working in areas of Ajera other than those listed above (such as Manage > Journal Entries) causes your Work-in-Progress Aging report and Trial Balance report to be out of balance.

1. Print the Work-In-Progress Aging report (Reports > Project > Work-In-Progress Aging) as follows.

• Set the Aging As Of date to the same month-end date that you used to produce the Trial Balance report.
• In the Customize options, do the following:

• In the Amount Type field, select Billed.
• In the Sort Order field, select Activity type.

2. Compare the Work-in-Progress Aging report to the Trial Balance report:

If in balance, the WIP Outstanding amount by Labor, Expense, and Consultant on the Work-In-Progress Aging report equals the Current Balance for the associated Work-In-Progress accounts on the Trial Balance report.

If you cannot identify the work-in-progress accounts on the Trial Balance Report, go to Company > Preferences > Balance Sheet Accounts tab. The three accounts are listed in the Labor, Expense, and Consultant fields of the Work-in-Progress box.

If in balance, proceed to Step 6 - Reconcile accounts payable. Otherwise, complete the following instructions.

Work-In-Progress account does not reconcile to aging

If your WIP balance on the Trial Balance does not equal the WIP Outstanding total on the Work-in-Progress Aging report, follow these steps:

Ensure beginning balances are in balance

1. Print the Beginning Balance Control Account Verification report. Click Company > Beginning Balances > Trial Balance > (Reports) > Beginning Balance Control Account Verification.
2. For the Work-In-Progress accounts, compare the amounts in the Trial Balance column and the Entered column. If there is a difference (also noted on the report), you must determine which amount is correct and change the amount that is incorrect.

If the Trial Balance amount is incorrect, change the amount entered in the Beginning Balance Trial Balance (Company > Beginning Balances > Trial Balance). If the Entered amount is incorrect, change the amount entered in the Beginning Balance Unbilled work-in-progress (Company > Beginning Balances > Unbilled Work-in-progress).

Determine if any journal entries need to be adjusted

1. Print the Ledger report for each of the Work-In-Progress accounts. Click Reports > Financial > Ledger, and select the month that you are reconciling (for example, April 2012).
2. Drill down on the Work-in-Progress accounts. Identify any items that have a description of Journal Entry. You can review journal entries in Manage > Journal Entries > Existing tab (or click the entry on the Ledger report) to determine the session to print and review.

Because the Work-in-Progress account is a control account, you must determine why entries were made and if they were made in error. Adjust erroneous entries using Manage > Journal Entries.

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.