Posts tagged Reconciliation
Drop Ship Account Distributions and Reconcile in Dynamics GP

I get asked all the time about reconciling the accrued drop ship account. In order to explain how to reconcile this account, I thought I would detail how the accrued drop ship account is utilized in Dynamics GP. Once you have a basic understanding of how the drop ship process works, you will realize that the account reconciliation really isn’t that complicated.

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Using the PA Reconcile Utility to Close your Dynamics GP Projects

ou have just completed a project in GP and you are ready to close it - or so you think!  You go through the "Project Closing" window and it indicates that the project is not ready to be closed.  "What do I do now," you may ask. 

If you think you have everything completed for a project and you are not sure why it will not close, you may want to run the PA Reconcile utility.  What the PA Reconcile Utility does is correct many distribution, cost allocation, payment application, and other discrepancies in your Project Accounting module.  Many times, using the Reconcile Utility may be the only way a project can be adjusted so the system will allow a project to be closed.  The options available in the utility allow you to reconcile budgets and fees, billings transactions, how cash was applied, or even transactions related to revenue recognition.

If you are seeing inconsistent results in your project accounting inquiry windows or are unable to close a project, running the reconcile process may help correct your issues.  The process compares the values in the detail or transactional tables to the values in the summary record, and makes any necessary changes to correct the differences.  I recommend that the Project reconcile be run for each of the categories that are available prior to attempting to close every project.  Quite often, the reconcile utility will clear items on the project close checklist that are not completed.

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Using Reconcile to GL for Accounts Payable Reconciliation

When your Accounts Payables GL account does not tie to your sub-ledger payables, you will need to find the discrepancy.  A great tool for this is the Reconcile to GL routine.  Before you use this tool you will want to make sure all transactions have been posted through the GL.

You can find this tool by going to Financial > Routines > Reconcile to GL.

The Reconciliation Date will default as the user date.  Enter the Date range that you need to reconcile between your sub-ledger and GL.  The From date should be the last time you know that these tied.

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Month End Reconciling Process for Accounts Payable

Each month as part of the month end reconciling process you will want to confirm that your GL Accounts Payable account ties to your payables sub-ledger.

First you will want to generate the Historical Aged Trial Balance Report in Purchasing.  To do this go to:  Purchasing > Reports > Trial Balance.  Reports:  Historical Aged Trial Balance. Options:  Month End or default (this will depend on your report options settings).  In the Report Options window you will want to select the date to Print/Age as of, select the last date of the month you are reconciling.  I recommend generating this report In Detail (mark the In Detail box), but you could generate it as a summary report.

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