Balancing Accounts Payables (Vouchers) to the GL

Product: The Agency Manager - Series 6, 7, 8 and 9

To balance the Accounts Payables account, run the GL Payables Balancing Report and compare it to a Status of Accounts for Accounts Payable.

GL Payables Balancing Report

Follow the steps below to run the GL Payables Balancing Report

  1. Access Reports.
  2. Access Reports-General Ledger.
  3. Select GL Payables Balancing Report.

    Running the GL Payable Balancing Report using the parameter Payables Ending Balance, the total should match the ending balance for the Accounts Payables account on the Status of Accounts  for that month.

    Running the GL Payable Balancing Report using the parameter Month-End, this should match the Month-End journal entry that was made to the Accounts Payables account for the month.

Status of Accounts Report

  1. Access Reports.
  2. Access Reports-General Ledger.
  3. Select Status of Accounts.

Manually Balance the Pending Payables General Ledger Account 

  1. Find the first month in which the GL Payable Month-End report does not balance.
  2. Run the Vouchers History report for the month that is out of balance.
  3. Run the Status of Accounts report for the Pending Payables general ledger account for the month that is out of balance. 
  4. Mark off the entries that match on the Vouchers History report and the Status of Accounts report.
    1. The remaining items on the Vouchers History report should total to match the GL Payable Ending Balance report.
    2. The remaining items on the Status of Accounts report, with the exception of the Month-End journal entry, are the items that need to be reversed or moved.

Vouchers History Report

  1. Access Reports.
  2. Access Reports-General Ledger.
  3. Select Vouchers History Report.

When the GL Payable Balancing Report Does Not Match the Status of Accounts for Accounts Payable

Look for the following items when the Accounts Payables account is out of balance.

  1. Voided voucher check: Every voucher gets filed internally with the check number it processed into in the refer field in the database. Sometimes the refer field is not updated when the voucher is originally processed, so, although the check is voided and the offset is made to cash and payable, the credit voucher does not get created. If you have a voided check in the payable account, run the GL Payable Balancing Report for that month and make sure there is a credit voucher for that voided check. If there is not and it really was a voucher check, you will need to do a manual journal entry to back out payable and expense.
  2. Processed voucher that has a future month: You may run into a situation where you are out of balance because the check has debited payable but the Month-End journal entry has not credited payable. Run a Vouchers History report and look for any items in a future month. On the criteria, change the accounting month for future month range. For example, if you are balancing MAY 2007, change the accounting month range to JUN 2007 - DEC 2030. The GL Payable Balancing Report does not look for items in future months. If you can find the future item that is throwing you out of balance, you do not need to make a correcting entry. Your payable account will be back in balance when you run your reports for that future month.
  3. Miscellaneous Entries: Run a Status of Accounts Report for your payable account and look for any entries that are not based on a voucher check or Month-End Journal Entry.

Last Revised: February 19, 2008 02:24 PM

SWE1967