Many clients call and ask questions about how can they reconcile their balances to the General Ledger. It is a procedure that is typically completed every month. As someone who assists clients reconcile their Accounts Payable/Accounts Receivable accounts to the General Ledger in Dynamics Great Plains there is a GREAT tool called “Reconcile to GL.”
I’ve encountered many distressed clients at the end of the month calling and saying, my Accounts Receivable or Accounts payable is not reconciling to my General Ledger AR or AP balance. When I get the call I always ask, “have you tired the reconcile to GL tool?” The response I normally get is “no, what is that?” Then I begin to explain it’s a tool in Great Plains which is located in the General Ledger Module. They become surprised and ask can Great Plains really assist me in reconciling my Accounts Payable or Receivable balances? I then start to explain to them what the tool is and how to use it.
The Reconcile to General Ledger tool extracts a spreadsheet from Great Plains and gives you beginning and ending balances for your General Ledger Accounts Receivable or Accounts Payable account and the beginning and ending balance for the subledger account you have selected. The great thing about this tool is that it gives you matched, unmatched, and potentially matched transactions. Matched Transactions are transactions that are reflected in both the subledger and the General Ledger. Potentially matched transactions reflect transactions that have the same reference but payment may not be the same, or if a document (invoice is not fully paid). Then you have the unmatched transactions, the unmatched transactions are transactions that are reflected in one module and not in the other. This is key because the unmatched transactions is what causes the balances not to reconcile. Lastly, my favorite part of this tool is that you can drill back to the transactions from the spreadsheet to Great Plains. Instead of doing a document inquiry in the submodule to look for the transaction or in the General Ledger doing a Journal Entry inquiry, you can select the transaction and it will take you to the transaction.
This tool eliminates the process of manual reconciliation and makes it easier for the user! Clients are always relieved when they hear about this! If you need any assistance in this you can always contact MIBAR and a Great Plains Consultant will definitely assist!