Dynamics GP Tips & Tricks for Reconciling Your Accounts Payables

Dynamics GP Account Payable Reconcile

Things to look for when reconciling your Accounts Payable Sub-Ledger (Accounts Payable Aging with Options) to the General Ledger:

  1. Inquire either detail or summary to your Accounts Payable – Trade account.
    • If you use more than one account for accounts payable be sure that the accounts tie to:
      • Vendor Class
      • Payment Priority
      • Range of vendors
      • Other
  1. Run your Accounts Payable aging given the restrictions mentioned above and calculate any differences from the balance in the G/L to the Aging report.
  2. If the two reports are in balance, no need to go any further.
  3. If there are differences, go to:
    • Financial>Routines>Reconcile to GL
    • Run the report using the Accounts Payable GL account(s)
    • Be sure to enter a path/folder for the Excel report to save.
      Dynamics GP Reconcile Tip
  4. Look in the “Unmatched Transactions” section. The total here should be your difference.
  5. The items displayed either on the Accounts Payable or General Ledger side will have hyperlinks that can drill back to the GL inquiry windows. This should give you details as to the root cause of the differences.
    Dynamics GP Reconcile Tip
  6. Here are the common causes of differences. So double check these:
    • The distribution type “PAY” was used with an account other than the accounts payable trade account.
    • The accounts payable account was used with a distribution type other than “PAY”.
    • The posting date for the accounts payable transactions is different from the posting date to the General Ledger.
    • Look in Tools>Setup>Posting>Posting to verify whether you are posting from batch date or transaction date.
    • Inquire detail to the accounts payable account in Financials and look for all entries with Source Document “GJ”. This will display any journal entries that were made to your accounts payable account.  No journal entries should ever be made to these accounts.
    • To ensure that this does not occur in the future, you can unmark the accounts payable account in Financial>Cards>Account “Allow Account Entry”.
  7. The above measures should be able to identify most instances where differences occurred between the Accounts Payable aging report and the balance in your General Ledger.
  8. If further reconciliation is needed, you can create two separate SmartLists, one from Payables Transactions and another from Financial Transactions where the Original Control Number from Accounts Transactions matches the Voucher Number in Payables Transactions.

Hopefully these tips and tricks help you to find any issues when trying to reconcile the Accounts Payable Sub-Ledger (Accounts Payable Aging with Options) to the General Ledger in Dynamics GP.  If you need further information or assistance, check out our blogs on Dynamics GP or contact our team of Dynamics GP experts.  Send us an email at marketing@crestwood.com.

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