Reconcile Transactions
Business Needs
Periodically check that Receivables transactions balance with themselves by running the Sales Journal by GL Account and the Transaction Register for the same GL Date range. This will ensure that all postable items are reflected on your Sales Journal.
The total on the Sales Journal by GL Account should equal the total of postable items in the Transaction Register. In case of any discrepancies, view your customer balances using the Sales Journal by Customer report to find which total does not balance.
Use the following formula to ensure that the Transaction Register matches the Sales Journal:
| Transaction Register (postable items)
|
| + 2 * Credit Memo Total
|
| = Sales Journal (Debits + Credits)
|
You must adjust the Transaction Register total for any credits because they are negative on the Transaction Register and positive on the Sales Journal.
Report Options
Submit the two reports from either the Print Accounting Reports or the Submit Requests window. Select the same GL Dates for the two reports and choose to sort them by Customer.
See Also
Transaction Register
Sales Journal by Customer
Sales Journal by GL Account
Reconcile Receipts
Reconcile Outstanding Customer Balances
Reconcile Account Balances
Reconciling Receivables
