Reconciling the AP Aging Schedule report to the AP GL account

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You can reconcile AP aging information to the year-to-date AP GL account balance by generating the Aging Schedule report and the General Ledger report using the following settings.

Aging Schedule report

Option Setting
Date All
As of date <current period end date>
Discount treatment Gross
Aging basis <your preference>
Period definition <your preference>

General Ledger report

Option Setting
Date Current period
Regions to include <your preference>
Sections to include <your preference>
Accounting method Accrual basis (or Client basis if the client is set up as accrual in the Setup > Clients screen)
Journal entry format <your preference>

Notes

  • To display detailed information on the Aging Schedule report, use the Aging Schedule - Detailed report.
  • To display detailed information on the General Ledger report, clear the Summarize accounts payable account checkbox in the Journal Entry Format section of the report options.
  • To ease the process of reconciling, we recommend that you post transactions to the posting period in which the transaction date falls. Click here for additional details on allowing the application to automatically set the posting period based on the transaction date entered.
  • If a client has non-AP transactions posted to the AP account, the general ledger balance will be impacted and differ from the aging schedule total.
  • If a client uses multiple AP accounts, take the combined balance of those accounts into consideration on the General Ledger report.

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