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Reporting

General Ledger Reconciliation Report

The purpose of the General Ledger Reconciliation Report is to allow you to compare your General Ledger to your VAT/GST source file to find any transactions that are either:
  • Present in the GL import but not in the VAT/GST import or vice versa, and
  • mismatches in terms of amount or tax code.
The report compares transactions based on the GL VAT MatchField (this is normally
Invoice ID
, but it can also be the Document ID, a combination of
Entity Code
 and
Invoice ID
 etc., depending on what is chosen to be the reconciliation factor during implementation).

Parameters

The report is run based on the following parameters:
  • Entity
  • Reporting Date
  • GL Account
  • Minimum Difference in Amount

Reconciliations

Several reconciliations are run as part of this report.
Check One - present in both VAT/GST and GL:
  • Missing in VAT
    : GLVAT MatchField is present in GLand missing in VAT.
  • Missing in GL
    : GLVAT MatchField is available in VAT and missing in GL.
Check Two - Mismatch:
  • Mismatch in Amount
    : Is the
    General Ledger Amount
     the same in VAT/GST and GL for the relevant value in GLVAT MatchField.
  • Mismatch in TaxCode
    :Is the
    Tax Code
     the same in VAT/GST and GL for the relevant value in GLVAT MatchField?

Aggregation

ONESOURCE IndirectTax Compliance
 automatically aggregates
General Ledger Amount
 for all transactions with the same GLVAT MatchField. This means it can match the invoice level in VAT/GST import to the line level on the GL level or vice versa (depending on the client setup).

Running the Report

  1. On the Reports tab, select
    Reports
    .
  2. Locate the
    GL Reconciliation Report
    .
    If the report is not visible, use the page controls to advance through the list of reports.
  3. In the
    Actions
     column, select configure .
  4. Enter the parameters and select the output format.
  5. Select
    RUN
    . If the output format is
    Screen
    , a report view is displayed. If the output format is
    Excel
    , the same report is downloaded to the local disk.

This article applies to:

  • Product: ONESOURCE Indirect Tax,ONESOURCE Indirect Tax Compliance
  • Subject: Reports