Costpoint Online Help

Reconcile A/P to G/L

Step-By-Step Reconciliation

To reconcile Accounts Payable with the GL:

  1. Post cash disbursements in Accounts Payable.
  2. Print the Open Accounts Payable Report for all the A/P Account/Organizations, selecting the Page Break option to produce multiple reports for all the A/P Account/Organizations in your database.

    You can run the report for any period.

  3. Print the General Ledger Posting Summary Report for the same period and compare the balance of the two reports.

    If the balance does not tie, use the following steps to find the difference.

  4. Check to see whether any unposted Cash Disbursements records were created by another user between steps 1 and 2.

    A voucher is treated as paid on the Open Accounts Payable report as soon as it is printed, but it is not reflected in the G/L account until the Cash Disbursements journal is posted. Post any unposted records and rerun the General Ledger Posting Summary report.

  5. Print the General Ledger Detail report for the A/P account(s) and review the activity in the account(s).

    Check for journals other than A/P (the voucher distribution) or CD (the cash disbursements journal). Entries from any other journals, such as G/L journal entries, labor, or billing, affect the balance in the G/L account but not the Open A/P report, thus rendering the two reports out of balance. If you find a non-A/P or non-cash entry, it should be reversed and the original entry made through the vouchering process.

  6. Review the General Ledger Detail report for vouchers that were charged to the A/P Account on the expense side of the voucher.

    You should do this only during Costpoint initialization. If you discover an entry that was charged to the A/P Account, reverse it using either a journal entry or a voucher.

  7. Verify that the reports were reconciled in previous periods.

    If the reports were out of balance at the beginning of the period that you are trying to reconcile, the entry that threw them off is in an earlier period. Perform steps 1 and 2 for earlier periods until you find a period that does balance. Then complete steps 4 through 6 for the earliest period that is out of balance, working your way back to the present.