Difference between revisions of "Category:Account/Performing Account Reconciliation"

Revision as of 17:15, 28 July 2014

Performing an Account Reconciliation.

From time to time you may encounter an accounting error, and need to perform a quick reconciliation to get the current balance on the account without necessarily going through every single ledger entry payment. Here is one method you might find useful.

• Go to Finance - > Accounts Receivable > Invoice List.
• Filter on the Account ID, and "Approved" for the invoiced status.
• Take note of the total of the current charges column.

• Now go to the Payments Tab. Filter on all "Successful Payments", that are NOT "Internal Charges". Counting Internal Charges will double count credit invoices.

• Now subtract Payments from Current Charges on Invoices, in this case it will be 73999.68 - 71429.97 = 2569.71.
• This figure should match the outstanding balance figure on the account summary screen as pictured.
• It should also additionally match the Ledger Balance on the Transaction tab on the account as pictured.
• If any of the figures don't match between a manual reconciliation, the outstanding balance and the ledger balance, there is likely a problem and you should raise a ticket to Emersion with the details of all three balances.