Top Reconciliation ReportsThe Financial Edge™LOGAN TRAVIS

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Agenda

• Key reconciliation reports in General Ledger and sub-ledgers• General Ledger Report with multiple filters• General Ledger Report vs. Sub-ledger Account Distribution Reports

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Overview

• Financial activity recorded in sub-ledgers should match General Ledger

• Verification required for both internal and external stakeholders

• Reports: Repeatable and consistent reconciliation method

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Key Reconciliation Reports

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Report Displays:

General Ledger General Ledger Report Transactions grouped by account number

Trial Balance Report Balance and net activity by account number

Sub-Ledgers Account Distribution Report Transactions grouped by account number

Open Item/Aging Reports Outstanding balance for summary accounts

General Ledger Report

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General Ledger Report: Basic Settings

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General Ledger Report: Effective Filtering

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Find missing transactions by filtering Not Yet Posted in each sub-ledger.

Find transactions posted to incorrect summary accounts by filtering Posted and Accounts.

General Ledger Report: Always Format!

• Detail: Add projects, summaries, budgets

• Sort: Group by account code, segments, batches

• Criteria: Document selected options

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Account Distribution Report

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Next Steps

• Document your process• Research with queries• Set up Configuration and User Options to prevent errors• Soft-close fiscal periods

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Summary

• Key reconciliation reports in General Ledger and sub-ledgers:• General Ledger Report• Trial Balance Report• Account Distribution Report• Open Item/Aging Reports

• Use filters to find missing transactions and incorrectly posted transactions

• Prevent errors:• Process documentation• Configuration and User Options• Soft-close fiscal periods

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