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Reconciling Accounts Receivable and Accounts Payable GL Accounts to an Aging schedule for a prior period

By D1 Technologies, LLC

SAP Business One allows users to easily provide a schedule from Aging Reports that supports the GL account balance(s) on the Balance Sheet for prior posting periods.

Example – run the Balance Sheet for a prior month end date, example 5/31/2012.

In Financials > Finiancial Reports > Financial > Balance Sheet.

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Note:  click on the Expanded button and tick “Clear Sel” to ensure all entries are included.  The system saves your Expanded Selections that may have been selected during the last run of the report.

Click OK to run the report.  In the Level 4 drop down box, select level 4 (or in 9.2 select the most detailed level of the chart of accounts, which could be 10).  Then scroll down to the Accounts Receivable account(s).

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To generate the supporting schedule, navigate to Business Partners > Business Partner Reports > Aging > Customer Receivables Aging.  Select all customers by leaving the BP Code From/To fields blank.  Enter the same period end date as on the Balance Sheet.  Click on the ellipsis button beside “Control Accounts” to select the appropriate Account to check – this is only necessary if your company uses multiple control accounts.

MOST important tick is “Display Customers with Zero Balance”.   This is important because  if this box is not ticked B1 deducts any payment made after the aging date that  a customer makes from the BP’s balance, therefore the Aging would not match the Balance Sheet.

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Run the aging, select “Collapse All” button to display one row per business partner.  Compare the Balance Due total to the Balance Sheet.

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The aging report provides a supporting schedule for the Balance Sheet.

Reconciling_Accounts_Receivable_and_Accounts_Payable_GL_Accounts_to_an_Aging_schedule_for_a_prior_period_pic_5.png

Repeat the process for any other AR control accounts.

Use the same process for the Vendors Liability Aging report.

For more information, contact Mark Burt at D1 Technologies, Cayce, SC at (803) 740-5008.

Topics: SAP Business One

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