Tip of the week from Brenda Hopkins – Week 13

Sub-Ledger Reconciler

Having issues reconciling the Payables Management or Receivable Manage sub-ledgers to the General Ledger? Version 10 has a new feature that helps with this.

Benefits:

• Automatically match transactions for users
• Identify any transaction discrepancies between the sub-ledger and the General Ledger
  

The Feature DOES NOT automatically do any of the below task to balance the sub-ledgers to the General Ledger:

• Fix imbalances between the sub-ledgers and the General Ledger
• Correct posted transactions
• Back out posted transactions
• Void existing transactions
• Recreate new adjusting transaction
  

Reconcile to GL

You can select one or more Accounts Receivables or Accounts Payable Accounts from the General Ledger that hold the posted outstanding balances. The balance of all the accounts entered in this window is the amount to which the Sub-ledger balance is reconciled against.

For example you could have the Accounts Payable account and the Purchase Discounts Available Accounts.

Reconcile Process

The balances Include:

• Beginning balances
• The difference between the beginning balances
• Transactions entered during the date range specified
• The total ending balance
• The difference between the ending balances

Microsoft Dynamics GP matches transactions from Payables or Receivables Management to the distribution line in the General Ledger.

• Transactions that exist in both ether sub-ledger and General Ledger
• Transactions that exist in either the sub-ledger or General Ledger, but not both
• Transactions that potentially match, but don’t meet all the matching criteria

Reconcile Report

Analysis of the reconciliation results is an important aspect of the process. In order to provide the appropriate tools to perform an analysis the results are sent to an Excel spreadsheet. Excel provides the typical functionality of an spreadsheet.

You can save each spreadsheet to document your exceptions and how they were handled by adding a comment to your Journal Entry noting the action taken to fix the problem.