ar to gl reconcilation
DESCRIPTION
Ar to Gl ReconcilationTRANSCRIPT
AR TO GL RECONCILATION
AR TO GL RECONCILATION
AGING-7BUCKETS --closing balance of the previous month or opening balance of the current month
TRANSACTION_REGISTER --Identify the Invoices, Credit Memos, Debit Memos and supplementary Invoice Details
APPLIED RECEIPT REGISTER --to identify the receipts which are adjusted against invoices/Debit memos
UNAPPLIED RECEIPT REGISTER --to identify the receipts which are lying unapplied to any invoices/Debit memos
ADJUSTMENT REGISTER --to identify the small balance adjustments those were done on invoices
INVOICE_EXCEPTION_REPORT --to adjust the transaction register for any transactions that are not opens to receivables
and therefore do not show up on your aging
AGING-7BUCKETS --report as of the current months closing for closing balanceArithmetic Process for reconcile AR
Open aging
+ Transaction register balance
+/- Adjustment register balance
(-) Invoice Exception Balance
(-) Unapplied Receipts Balance
(-) Applied Receipts Balance
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Arithmetic Total should be equal to the closing balance
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Now compare the AGING -7BUCKETS - GL ACCOUNT with the TRAIL BALANCE to see if the balance in the Sub Ledger as shown by the aging report is the same as in the Trail Balance.