Hello, I just run the GL Account receivable, and I have a lot unmatched transactions due the wrong way the information was import to this new company, it was done without taking in consideration the tables relations ( it was basically entered manually). However, I would like to know is this affect the account receivable report, that the Bank is asking now.
*This post is locked for comments
Thank you so much, it means that I need to collect all information.
I would concur with Frank. You will need to go back to your "old co" data and flush the variances.
However if you do know your variances you can enter transactions to correct the balances, You have to be very careful to post these the correct way and use a clearing account or offset in your A/R account. You don't want to create income or expense.
Your A/R Trial Balance reflects open A/R transactions. The reconciliation spreadsheet doesn't affect A/R. A/R transactions determine what appears in the reconciliation spreadsheet. Without seeing the details, what you're saying leads me to believe you have a transaction cleanup project ahead of you.
How this could affect our A/R since many report went out to the Banks :(
Ok I will, and how this affect the Aging Report.
Thank you!!
Pat, you're going to need to research each of the transactions that does not have a corresponding entry on either the GL or AR side to determine why and then make corrections to one side or the other to resolve the discrepancies.
Yes, is exactly what are trying to do. some of them are in the right side, and some of them has information in both side both are not the same.
Thank you
It sounds like you're trying to create an accurate Accounts Receivable aging that ties out to your GL A/R account so you can provide proof to the bank of your A/R balance, correct? It also sounds like data was imported from a legacy system into GP and you question the accuracy of the data imported?
Which side of the reconciliation are the transactions missing? The Accounts Receivable side or the GL side? Or both?
Stay up to date on forum activity by subscribing. You can also customize your in-app and email Notification settings across all subscriptions.
#1
André Arnaud de Cal...
291,280
Super User 2024 Season 2
#2
Martin Dráb
230,214
Most Valuable Professional
#3
nmaenpaa
101,156
Share
Report
All responses (
Answers (