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

Revision as of 11:25, 29 September 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. Also, ensure the All Methods option is deselected.

• 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.