One process that can be extremely time-consuming is balancing subledgers to the general ledger to ensure that everything in the system is in balance. An out of balance situation can occur if users change the GL account on a subledger transaction. For example, if a user changes the payables account on an AP subledger transaction, the AP subledger no longer matches the AP GL account.
Another common occurrence is that users post general ledger transactions to an AP or AR control account without going through the appropriate subledger. This means that the general ledger is updated but not the subledger, resulting in an out of balance situation.
Dynamics GP provides a feature to facilitate reconciling accounts payable and accounts receivable to the general ledger. The Reconcile to GL feature uses Microsoft Excel to provide an analysis of matched and unmatched transactions. In this recipe, we'll look at how to use the Reconcile...