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Our statements for the month August was sent out with incorrect running totals. Going through the statements now to determine if it were all the statements or just a few, but has anyone seen this before?
Thanks
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Practically speaking, there is no connection or relation at all. Although, the concept is the same. When calculating the running total, the report or inquiry will retrieve the transactions for the associated master record (could be customer, item, vendor ..etc). The item stock inquiry is a good example at which transactions amounts and item balance are considered to provide a running balance as shown below:
In several cases, the item balance (item stock) is incorrect, which leads to incorrect running total. In such cases, reconciliation could get things on track as it recalculates the item balance.
Talking about statements running total, I do believe the same concept applies. In this essence, reconciliation and check links could be the resolution.
I have seen several similar cases related to the running total, one of the obvious cases was Item Stock Inquiry which provides a running total for the line items.
Usually, several running total reports retrieve the beginning or ending balance of the transaction and start calculating the running total on the run of the report, if there is an mistake either with the balance being considered as an input or the transactions range, the running total will not provide correct result.
The initial prerequisite is to hit the reconciliation and check links. Reconciliation recalculates the balance based on the transaction retrieved from the associated module. Meanwhile, check links ensure data integrity among tables which could definitely cause a problem
In case the running total still provide incorrect result, we need to dig further for the root cause of the problem
One final note, if we are talking about customized reports, you might need to check the code, report layout and calculations considered for the running total.
Your feedback is highly appreciated,
I haven't seen it, but it is a good habit to first reconcile receivables amounts prior to print statements.
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Almas Mahfooz
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