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Accounts payable

Reconcile the AP Aging Schedule report to the AP GL account

You may need to reconcile AP aging information to the year-to-date AP GL account balance. To do this, generate the Aging Schedule report and the General Ledger report using the following settings.

Aging Schedule report

Option
Setting
Date
All
As of date
<current period end date>
Discount treatment
Gross
Aging basis
<your preference>
Period definition
<your preference>

General Ledger report

Option
Setting
Date
Current period
Regions to include
<your preference>
Sections to include
<your preference>
Accounting method
Accrual basis (or Client basis if the client is set up as accrual in the
Clients
 screen)
Journal entry format
<your preference>
note
  • For detailed information on the Aging Schedule report, use the
    Aging Schedule — Detailed
     report.
  • For detailed information on the General Ledger report, clear the
    Summarize accounts payable account
     checkbox in the Journal Entry Format section of the report options.
  • To ease the process of reconciling, we recommend that you post transactions to the posting period in which the transaction date falls. You can set up the application to set the posting period based on the transaction date entered.
  • If a client has non-AP transactions posted to the AP account, the general ledger balance will be impacted and differ from the aging schedule total.
  • If a client uses multiple AP accounts, take the combined balance of those accounts into consideration on the General Ledger report.

This article applies to:

  • PRODUCT: Accounting CS

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