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.