Sprawdzanie wartości bilansu
[en] When all the various balance accounts have been reconciled and have got their new opening balances, it is recommended to inspect the reconciliations to make sure that everything is correct.
[en] See separate topics for deviation handling.
[en] Inspect the inventory value
[en] Make sure that:
[en] The balance of the inventory balance report is equal to the inventory GL account(s).
[en] The balance of the account(s) is 0 (zero).
[en] During period closure, the account(s) connected to inventory is automatically reversed in the correct period which means that the balance of the account(s) shall be 0 (zero).
[en] Inspect the balance of the value of stock report
[en] Write INVBAL and the current period in the program field (INVBAL/YYYYMM) and press ENTER. Or enter INVBAL included with period filter directly from PAR by pressing the amount in the Balance column for transaction named INVENT in the Inventory Balances folder.
[en] Note the amount on the bottom of the Inventory Balance column. This amount is to be compared with the balance of the inventory account(s) in the general ledger. For manufacturing companies, the amount in the Picked to Production column is included in the Work in Progress.
[en] Note that it is possible to set up separate GL accounts for Finished Products and Material instead of having all inventory imported to one GL account. You could then change the value in the Group by filed to CLASS in INVBAL.
[en] Please also note that it is possible to set a inventory GL account on each ART as well. That is done by choosing the menu option “Finance account settings” on ART. There you click on the create new icon for “Inventory balance account” and enter the account.
[en] Inspect the balance of the inventory account in the general ledger
[en] Write ACC/XXXX (XXXX being the Inventory GL account) in the program field and press ENTER or enter the GL account(s) directly from PAR by clicking on the link in the GL Account column in the Inventory Balances folder.
[en] Highlight the item line presenting the correct period.
[en] Compare this amount(s) to the amount(s) from the value of stock report (INVBAL).
[en] If any deviation, see several possible scenarios under the topic: Deviation between the value of the inventory subledger and the GL inventory balances.
[en] Inspect the value of work in progress (WIP)
[en] Make sure that:
[en] The balance of the value of WIP report is equal to the WIP account(s) in the general ledger.
[en] The balance of the appropriation account(s) is 0 (zero).
[en] During period closure, the account(s) connected to WIP is automatically reversed in the correct period which means that the balance of the appropriation account(s) shall be 0 (zero).
[en] Inspect the balance of the work in progress report
[en] Write PWBAL and the current period in the program field (PWBAL/YYYYMM) and press ENTER. Or enter PWBAL included with period filter directly from PAR by pressing the amount in the Balance column for transaction named INVPRO in the Inventory Balances folder.
[en] Note the amount of the last day in the Accrued Total Cost column. This amount is to be compared with the balance of the WIP account(s) in the general ledger.
[en] Note that it is possible to set up separate GL accounts for Material, Operations and Extra Cost instead of having all work in progress imported to one GL account. You could then reconcile by comparing the amounts in the columns Accrued Mat.Cost, Accrued Opr.Cost and Accrued Extra Cost in PWBAL.
[en] Inspect the balance of the work in progress account in the general ledger
[en] Write ACC/XXXX (XXXX being the Work in progress GL account) in the program field and press ENTER or enter the GL account(s) directly from PAR by clicking on the link in the GL Account column in the Inventory Balances folder.
[en] Highlight the item line presenting the correct period.
[en] Note the amount in the Total, YTD column on this item line.
[en] Compare this amount(s) to the amount(s) from the value of stock report (PWBAL).
[en] If any deviation, see several possible scenarios under the topic: Deviation between the value of the inventory subledger and the GL inventory balances.
[en] Inspect the provision for liabilities (Product balance)
[en] Make sure that:
[en] The total product balance is equal to the balance on the appropriation GL account(s) for product.
[en] The balance of the appropriation account(s) is 0 (zero).
[en] During period closure, the account(s) connected to provision for liabilities is automatically reversed in the correct period which means that the balance of the appropriation account(s) shall be 0 (zero).
[en] Inspect the balance of the provision for liabilities (product balance) per period
[en] Write PROBAL and the current period in the program field (PROBAL/YYYYMM) and press ENTER. Or enter PROBAL included with period filter directly from PAR by pressing the total amount in the Change column in the Product Balances folder.
[en] In the Group by field, select the DOCTYPE option.
[en] Note the amount on the bottom in the Balance, Total column. This amount is to be compared to the amount of the appropriation account(s) for product for the same period.
[en] Inspect the balance of the provision for liabilities (product balance)
[en] Write ACC/XXXX (XXXX being the provision for liabilities GL account) in the program field and press ENTER or enter the GL account(s) directly from PAR by clicking on the link in the GL Account column in the Product Balances folder.
[en] Highlight the item line presenting the correct period.
[en] Note the amount in the Total, YTD column on this item line.
[en] Compare this amount to the amount from the PROBAL application.
[en] If any deviation, see the topic: Deviation between the product balance report and the GL product balances.
[en] Inspect the recorded fixed assets account balance
[en] Make sure that:
[en] The balance of the fixed assets report is equal to sum of all fixed asset GL accounts.
[en] Inspect the balance of the fixed assets report
[en] Write FAR in the program field and press ENTER.
[en] Press F12 to open the action menu and choose the option Report: Fixed Assets. Reconcile to ATR, Detailed (REP/101155;YYYYMM).
[en] Possible reason for deviation is manual posting directly against GL asset accounts.
[en] Inspect the balance on each BANK
[en] Inspect the balance on each BANK.
[en] Inspect the bank account balances
[en] Write BANK in the program field and press ENTER. Or enter each BANK from PAR by pressing the link in the bank column in the BANK Reconc folder.
[en] Do the following steps for each of the bank overviews.
[en] Note the amount in the Balance column on the item line for the current period.
[en] The amount in the GL postings, YearToDate column in the PAR application for the current period should be equal to the amount in the Balance column in the BANK application.
[en] Compare this amount with the balance from the bank statement (BST).
[en] Make sure to repeat this procedure for all bank overviews / GL bank accounts.
[en] There may be some deviations even though the bank reconciliation has been done, because reconciliation does not pay attention to any manual entries in the GL. If any deviation, see several possible scenarios under the topic: Deviation between the cash management module and the GL.
[en] Inspect the reconciliation of the customers' ledger
[en] Note that the Agio reconciliation must be complete prior to this control.
[en] Make sure that:
[en] The balance of the customers' ledger is equal to the accounts receivable in the general ledger.
[en] Inspect the balance of the customers' ledger per period
[en] Write CUSBAL and the current period in the program field (CUSBAL/YYYYMM) and press ENTER. Or enter CUSBAL included with period filter directly from PAR by pressing the total amount in the column CAT Balance, Local Cur in the BAL Recon folder.
[en] If many lines in the CUSBAL application, you could select the CUR option in the Group by field.
[en] Make sure that the value in the Date/Period field reflects the correct period.
[en] Note the amount on the bottom in the Balance, NOK column. This amount is to be compared to the amount on the accounts receivables for the same period.
[en] Inspect the balance of the accounts receivable in the general ledger
[en] Write ACC/XXXX (XXXX being the A/R GL account) in the program field and press ENTER or enter the account receivables GL account directly from the PAR application by clicking on the link in the GL Account column in the BAL Recon folder.
[en] Enter the Balance tab to see the balances for the GL account.
[en] Note the amount in the Total YTD column for the given accounting period.
[en] Compare this amount to the amount from the CUSBAL application.
[en] If any deviation, see the topic: Deviation between the GL and the subledgers.
[en] Inspect the reconciliation of the suppliers' ledger
[en] Note that the Agio reconciliation must be complete prior to this control.
[en] Make sure that:
[en] The balance of the suppliers' ledger is equal to the accounts payable in the general ledger.
[en] Inspect the balance of the suppliers' ledger per period
[en] Write SUPBAL and the current period in the program field (SUPBAL/YYYYMM) and press ENTER. Or enter SUPBAL included with period filter directly from PAR by pressing the total amount in the column SAT Balance, Local Cur in the BAL Recon folder.
[en] If many lines in the SUPBAL application, you could select the CUR option in the Group by field.
[en] Make sure that the value in the Date/Period field reflects the correct period.
[en] Note the amount on the bottom in the Balance, NOK column. This amount is to be compared to the amount on the accounts payable for the same period.
[en] Inspect the balance of the accounts payable in the general ledger
[en] Write ACC/XXXX (XXXX being the A/P GL account) in the program field and press ENTER or enter the account payables GL account directly from PAR by clicking on the link in the GL Account column in the BAL Recon folder.
[en] Enter the Balance tab to see the balances for the GL account.
[en] Note the amount in the Total, YTD column for the given accounting period.
[en] Compare this amount to the amount from the SUPBAL application.
[en] If any deviation, see the topic: Deviation between the GL and the subledgers.
[en] Inspect gross margin calculations
[en] Make sure that:
[en] The gross margin (GM) in the customer billing report is equal to the result calculated in the general ledger.
[en] Reconciliation of the GM is recommended for companies involved in selling of goods.
[en] Inspect the balance in the customer billing report
[en] Write CUSBILL in the program field and press ENTER.
[en] Write PERIOD:YYYYMM in the filter field and press ENTER.
[en] Make sure to use Date as the value in the Group By field on the upper right side of the window.
[en] Click on the link in the Billing, Year column on the item line with the most recent date, or the last date for the specific period.
[en] Note the amount on the bottom of the Landedcost column. This is to be compared to the balance of costs of goods sold in the financial report.
[en] Note the amount on the bottom of the Amount/nok column. This is to be compared to the balance of income in the financial report.
[en] Inspect the result of the financial report
[en] Write FRP in the program field and press ENTER to open the financial reports. Enter the Profit & Loss report.
[en] Compare the cost of goods sold (COGS) to the amount on the bottom of the Landedcost column in CUSBILL.
[en] Compare the sales income to the amount on the bottom of the Amount/nok column in CUSBILL.
[en] The customer billing report (CUSBILL) shows the total sale and cost of goods sold, based on invoices/credit notes and related shipping advice.
[en] It is normal that there are minor deviations due to agio. Any manual entries to COGS-accounts in the GL will also generate deviations between the billing report and the GL.
[en] If any deviation, see several possible scenarios under the topic: Deviation between gross margin calculations.
[en] Inspect relevant reports
[en] Entries in the general ledger
[en] ATRLIST
[en] REP/100436 Entries per GL account per period - accumulated.
[en] REP/100433 Entries per GL account per period - not accumulated.
[en] Suppliers
[en] REP/100128 Supplier invoices (SIN) / Supplier credit notes (SCN).
[en] REP/100392 Supplier Account Transactions.
[en] Customers
[en] REP/100105 Sales invoices (CIN) and sales credit notes (CCN).
[en] REP/100393 Customer Account Transactions.
[en] Open a sorted list of frequently used finance reports
[en] Write FRP in the program field and press ENTER.
[en] Highlight the preferred report and press ENTER to open it.
[en] List all finance reports in RamBase
[en] Write FINANCE in the program field and press ENTER to open the Finance workspace.
[en] In the lower left corner of the workspace, click on the link Show all reports.
[en] To filter the finance reports, select the preferred category from the dropdown menu in the empty field in the upper left corner of the window.
[en] Highlight the preferred report and press ENTER to open it.