Reconcile a Sub-ledger to the General Ledger (GL) in Dynamics GP
Posted by Georgia Stewart on September 21, 2016
Each month our support team receives calls for assisting customers with reconciling a sub-ledger to the General Ledger in Microsoft Dynamics GP.
Here are some tips to help you with the reconcile process:
- Run the Historical Aged Trial Balance for Payables or Receivables (Reports > Purchasing (or Sales) > Trial Balance – select Historical Aged Trial Balance).
- Enter the Option Name of ‘Month End’
- In the Print/Age as of field, select ‘End of Previous Period’
- In the Select Transactions For Reporting Using field, select the radio button for ‘GL Posting Date’
- Save the option. This way you will be able to run the report each month and it will show the amounts based on the GL Posting Date through the end of the previous period.
- Compare the report total to the GL Payables Account (or Receivables Account) balance as of the previous period
- Use the Financial Routine ‘Reconcile to GL’ (Microsoft Dynamics GP button > Tools > Routines > Financial > Reconcile to GL).
- Starting with Dynamics GP 2013 you can use this to create Excel workbooks that will assist you to reconcile to the GL
- For Dynamics GP 10 and Dynamics GP 2010 you can use this to create Excel workbooks to reconcile Payables and Receivables. The feature was not available prior to Dynamics GP 10.
- Microsoft indicates “The Reconcile to GL spreadsheet was not intended to match the Historical Aged Trial Balance (HATB). It was intended to be an aid to help match distributions between the sub-ledger and the General Ledger and to assist in finding the differences that may occur between the GL Trial Balance and the RM/PM HATB.”
- Here are the Microsoft FAQ's Frequently Asked Questions answered by Microsoft
- Microsoft Knowledgebase Article 866570 provides additional information about the differences when you reconcile General Ledger to Payables or Receivables.
- Use the Account Transactions SmartList to search for journal entries entered directly to the payables or receivables account or the cash account.
- You can add Originating columns to the Account Transactions SmartList to provide information related to the sub-ledger transactions.
- Originating Master ID (vendor or customer ID)
- Originating Master Name (vendor or customer name)
- Originating Document Number
- Originating Transaction Source (the audit trail code from the sub-ledger posting)
If you have further or specific questions, we are here to help. Contact our Dynamics GP reconciliation experts at Support@Crestwood.com.