A/R Aging Report To The G/L
The reconciliation of the Accounts Receivable Aging report to the General Ledger must be performed as part of closing and/or reconciling the accounting period. The following procedures are intended to be general guidelines.
The following are the basic procedures for reconciling the Accounts Receivable Aging to the General Ledger.
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- Reconcile and Verify Reports for 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. - Post All Cash Receipts
Make sure that you entered and posted all the cash receipts for the accounting period that you are reconciling. - Post All Billing Transactions
Make sure that you entered and posted all billing transactions for the accounting period that you are reconciling. - Freeze the General Ledger
Immediately after you post all cash receipts and billing transactions for the accounting period that you are reconciling, freeze the General Ledger. You can notify all staff that no further transactions can be posted to the period being reconciled, or you can disable data entry in the system. - Print the Accounts Receivable Aging Report
Print the Accounts Receivable Aging Report after you post billing transactions and cash receipts for the accounting period that you are reconciling. Always print this report as part of the closing process for each accounting period as support for billed accounts receivable. - Print the Trial Balance
In the General Ledger module, print the Trial Balance report and review the ending balances of the Accounts Receivable accounts. Compare these ending balances to the amounts on the Accounts Receivable Aging report. - Compare the Two Reports
Compare the amounts on the Accounts Receivable Aging Report by Account to the ending balances of the Accounts Receivable that appear on the Trial Balance. The two should be the same. If you discover an account balance that does not match the amount on the Accounts Receivable Aging Report, print the General Ledger Detail of that account. - Make any necessary adjustments to correct differences
- Rerun the Accounts Receivable Aging Report and the Trial Balance
Reprint the Accounts Receivable Aging Report and Trial Balance. - Review your results
There may be other reasons why the Accounts Receivable Aging Report and the General Ledger do not agree. The two may not reconcile if the G/L balances and the Accounts Receivable history screens were not initialized with the correct amounts. - Retain Reports
File the reconciling Accounts Receivable Aging and Trial Balance reports for future reference. - If the reports still don't reconcile
Call Deltek Costpoint general support.
Parent Topic: Related Topics