How to use the Reconcile to GL Routine to Reconcile Payables Management to the General Ledger

During a normal work day, many transactions are processed through your Payables Management module in Microsoft Dynamics GP.  Typically, these Payables Transactions are also posted to the General Ledger.  However, sometimes these entries are changed or deleted and do not update the GL.  As a result, the balances on a General Ledger trial balance report might not match the corresponding balance on trial balance reports from Payables Management.

The Reconcile to GL feature of GP allows you to create a spreadsheet of your transactions from Payables and General Ledger, and it shows you both matched and unmatched transactions.  It does not automatically correct any discrepancies, but it does give you a starting point to make the necessary corrections.  To be included in the spreadsheet, transactions must be posted and exist in either an Open or History table.

The steps to Reconcile are:

• Open the Reconcile to GL Window, Financials | Routines |Financial | Reconcile to GL

• Enter or select the Reconciliation number.
• Enter the date for this reconciliation. It will default with the current date.
• Enter the date range for the transactions to include in this reconciliation. The Payables Management transactions with a transaction date that is included in the date range will be included in this reconcile.
• Select Payables Management as the Module.
• Select a file location for the Excel spreadsheet that will be created.

NOTE:  The default file name is created for the Excel spreadsheet by using the module abbreviation, reconciliation number, and date. You can change this name, but we recommend that you use a consistent naming convention and folder for all reconcile to General Ledger spreadsheets.

• Enter the accounts to use to match Payables Management transactions to General Ledger distributions. This would most often be the Accounts Payable or Discount Available accounts. The accounts that were on the previous reconciliation for Payables Management are displayed, if this is not the first reconciliation for this module.
• Choose Process.

The following happens during the matching process:

• Transactions from Payables Management are matched with General Ledger distributions using the transaction source code, voucher number, posting date, and transaction amount.

• Transactions are potentially matched if some, but not all, of the information matches. For example, if the source code and date for the transaction matches the code and date in General Ledger, but the transaction amounts don’t match, the transactions are considered potentially matched and will appear in that section of the spreadsheet.
• If the transaction exists in Payables Management but not in General Ledger or vice versa, the transaction is unmatched and will appear in the Unmatched section of the spreadsheet.
• The subledger and General Ledger balances are calculated and displayed in the window.
• The Excel spreadsheet is created and saved in the output file location that you specified in step 6. After the processing is complete, the spreadsheet will open.

Check out the Rockton blog for other tips and tricks:

• Save Time Using Master Posting or Series Posting to Post Your Batches
• Dynamics GP Quick Tips
• Work Simpler and Easier with GP Custom Links
• Join one of our webinars

About Rockton Software

Work Simpler & Easier isn’t just a catchy motto. It’s a lifestyle.