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Reconcile balances in the subledgers and the general ledger

Entries in the subledgers (accounts receivable and accounts payable) give a detailed view of claims against customers and debts against suppliers. Invoices, credit notes, reminders, interest invoices and payment documents are posted against the subledgers. As the actual accounts are held in the general ledger, similar posting must be drawn against the subledger as well. The BAL Reconc folder verifies that these postings are even.

Reconcile the subledgers

  1. To open the Period Account Register (PAR) application, find Finance in the RamBase menu and then General ledger. Click Accounting periods to enter the PAR application.

  2. Make sure that the agio has been calculated prior to this reconciliation.

  3. Highlight the relevant period and press ENTER.

  4. Select the BAL Reconc folder.

    PER_15.jpg

  5. Pay attention to the View field situated on the top left of the table in this folder. The information displayed in the table depends on the view selected. Make sure to inspect all views. It is normal that there are minor deviations. You may inspect the balances in foreign or local currency.

  6. View:

    1. CUS by CUR: Reconciles the currency recorded in the general ledger and the currency recorded in the accounts receivable ledger.

      1. To inspect the underlying data; Click on the links in the CAT Balance, Local Cur and ATR Balance, Local Cur columns.

    2. SUP by CUR: Reconciles the currency recorded in the general ledger and the currency recorded in the accounts payable ledger.

      1. To inspect the underlying data; Click on the links in the SAT Balance, Local Cur and ATR Balance, Local Cur columns.

  7. View:

    • CUS by ICTDB: Reconciles the intercompany balances in the general ledger and the balance in the accounts receivables ledger.

      1. To inspect the underlying data, click the Bal,CAT and ATR Balance links.

    • SUP by ICTDB: Reconciles the intercompany balances in the general ledger and the balance in the accounts payables ledger.

      1. To inspect the underlying data; Click on the link in the Bal.SAT and ATR Balance links.

  8. When all deviations are reconciled, press F12 to open the action menu and choose the Approve Balance Reconciliation option.

  9. Optionally, make a comment.

  10. Click the OK button.

The PAR will be put to status 8, which means that the agio is calculated and all reconciliations are conducted. It is now recommended to inspect the reconciliations. Note that only authorized accounting personnel have access to make any changes to a period in Status 8.

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