Reconcile to GL Tips and Tricks with GP 10

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One challenge many companies face is their ability to reconcile their AP or AR sub ledgers to the GL. New with Dynamics GP 10, users can utilize the Reconcile to GL utility for both AP and AR that compares all entries in the sub ledgers to entries in the GL. This report is exported to Microsoft Excel, which makes it very handy and a huge time saver. After talking with new clients, many are unfamiliar that this utility exists or how to leverage it. As such, I wanted to take a few moments to explore some of the options and how to understand the report once exported to help your company use this invaluable tool.

Notes for running the utility:
Transactions are displayed on the spreadsheet using the functional currency
Transactions must be posted and either Open/Historic to be included in the report
Transactions must include distributions to the AP or AR account, or Discount Available account
Keep in mind, this report will display the data but does not change any data for the user

To reconcile to General Ledger

Open the window at Microsoft Dynamics GP > Tools > Routines > Financial > Reconcile to GL
Select either AP or AR
Enter a range of dates to include transaction for
Enter the accounts to be included in the reconcile process. (ie if you’re reconciling AP, enter all the accounts that are included in distribution for an unmatched transaction)
Click Process to begin generating the report

Once the report is run, the data will be presented in one of 3 categories:

Matches – Transaction from AP or AR are matched used the transaction source code, document number, transaction data, and transaction amount.

Potentially matched – Transactions identified as potentially matched if some, but not all the information matches (ie the source code matches but the amount is different)

Unmatched – If a transaction exists in the GL but not in AP or AR (ie transaction was posted in AR but not in GL)

One last thing to point out… one easy way to avoid out-of-balance situations include un-marking the “Allow Account Entry” checkbox in the Financial Account card. Unmarking this box will ensure entries can only be made as defaults – such as the accounts stored in Tools > Setup > Posting > Posting Accounts and Vendor cards, but will prevent a user from entering the account in any transaction entry window.

Give this a try to get a feel for how the data is organized, and enjoy how much simpler reconciling to the GL is.

Article written by Stephen Schilling, Technical Consultant – ERT Group

If you’re looking for specific ERP software information, check out the resources on the ERT Group website. You can also contact ERT Group for assistance in determining if a technology solution can help your organization better serve your business needs.

By ERT Group a Florida Microsoft Gold Certified Partner– offering Microsoft Dynamics ERP and Microsoft CRM.