The steps to balance the A/R sub-ledger and the G/L Accounts
Receivable control account are discussed in Aged A/R Summary.
If a discrepancy is discovered, this utility can be used to
determine the date that the discrepancy occurred.
Follow the steps outlined below:
Note: If it is not known when the Accounts Receivable sub-ledger
last agreed to the Accounts Receivable account in the General
Ledger, or if they have never agreed, then the program does not
have a valid starting date and will not be successful in searching
for the discrepancy.
Refer to How to Solve Manually below.
If the Accounts Receivable sub-ledger has been compressed or
purged, or the A/R Account in the General Ledger has been
compressed since the date when they were last in balance, then
details necessary for the program to do the comparison will be
missing. This means the program will not likely be able to find the
discrepancy.
Refer to How to Solve Manually.
Confirm each invoice amount on the current detailed Aged A/R
Report for each customer.
After you have verified that the Aged A/R Report is correct, then
you may assume that the A/R Sub-ledger has the correct total.
A journal entry in the General Ledger will be needed to agree the Accounts Receivable account in the G/L to the Aged A/R Report total.
Using this discrepancy report, your accountant needs to advise
you on a corrective journal entry to resolve this problem.
The accountant should provide the account numbers and amounts
appropriate to your firm.
If your firm uses more than one currency code when entering
Accounts Receivable invoices, then it is also possible that more
than one General Ledger account is used for Accounts Receivable
invoices where each currency can post to a separate G/L Account as
setup in Default Accounts.
Uncheck this box if your firm uses more than one currency code with
more than one G/L Accounts Receivable control account, and select
the currency.
This approach may isolate the discrepancy faster, if you are able to determine which currency is out of balance.
The prompts are:
Note the dates, accounts and amounts. This information will be needed for a more detailed search with the next steps.
Note the matching A/R records, since it will be needed to compare against the information found in the next step.
Finding the Discrepancy:
Compare each G/L entry found
in this Step 5, with the information found in the A/R in Step 4 to
manually determine the discrepancy.
Once the discrepancy is identified, contact Texada Support for instructions on how to correct this discrepancy.
ACTIONS:
Additional actions provided by buttons on the A/R to G/L
Discrepancy utility include:
View the G/L Discrepancies:
Click the VIEW button to review the G/L transaction
discrepancies as outlined in the G/L Find
utility.
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