Wednesday, July 14, 2010

AR-GL Reconciliation

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The "AR Reconciliation Report" shows the summary amounts of various AR reports, that are used to reconcile AR. This report mainly has 3 parts
a) Period Beginning Balance
b) Period Activity in different Areas and their differences
c) Period Ending Balance

AR is reconciled when the
"Aging on the beginning of the Period" +
"TheTotal Activity in the Period" =
"Aging on the end of thePeriod"

Total Activity in a period is calculated as follows:Transaction Register for the Period
(-)Applied Receipts Register for the Period
(-)Un-Applied Receipts Register for the Period
(+)Adjustments Register for the Period
(-)Invoice Exceptions for the Period
(+)Rounding Differences for the Period (*)
(+)Credit Memo gain/loss for the Period(*)

(*) These can occur only in the case of foreign currency transactions.
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1 comment:

  1. This is good.Could you please post more about AP,AR sub ledgers, how the interface will happen from these sub ledgers to GL.And how AP/ar trail balance will be prepared in ERP environment.

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