Prepare Payables to General Ledger Reconciliation
Run the Prepare Payables to General Ledger Reconciliation process to select data for the Summary section of the Payables to Ledger Reconciliation Report.
The process must run successfully for the most current summary information and before you can run the Payables to Ledger Reconciliation Report.
Prepare Payables to General Ledger Reconciliation Parameters
Request Name
Enter a descriptive name. Consider a name that indicates the accounting period, date, and time, especially if you're planning to run multiple processes.
Ledger
The ledgers available for selection are based on your assigned security.
Business Unit
Use this parameter to reconcile by a specific organization.
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You must explicitly map business units to balancing segment values. If not, you must reconcile by ledger.
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Don't specify a business unit if you implemented centralized payment processing using the service provider model. The output from the process may be incomplete for the purposes of reconciliation.
Accounting Period
You can select either open or closed accounting periods.
Account
If you have multiple payables accounts, you can limit the process to specific accounts. The natural account segment values for the accounts must have a Financial Category of Accounts Payable to be included in the reconciliation report. If the Financial Category isn't assigned to any natural account values in the chart of accounts, the process fails.
Include Intercompany Transactions
You can include or exclude intercompany transactions. To reconcile only intercompany transactions, you can restrict the account range to include only intercompany accounts.
Include Bills Payable
If you select Yes, include the bills payable accounts in the Account parameter if they differ from the accounts payable accounts. You must select Yes if the bills payable liability account is the same as the regular liability account.