How to Reconcile Account Payable with GL trial balance
- Run the Accounts Payable Trial Balance for a particular period which you have already closed (or) intend to close in both AP and GL.
- Now Run General Ledger Trial Balance Report for same period from GL responsibility.
- Then compare both trial balance reports APTB & GLTB for all accounts.
- Submit Create Accounting program from Payable responsibility with proper end date and Final and Post Mode parameter value as ‘Yes’.
- After completing “Create Accounting” report again compare APTB and GLTB report.
- If there is still any differences then submit the GL “Account Analysis – (132 Char) XML” report, which will help to find whether any other source journals are posted to these liability accounts. This report is also called as GL activity report.
- List out all other source journal amounts (credit less debit) and determine the net value (other than Payables source amounts) to compare with APTB.
- If there is still a difference between APTB and GLTB after deducting other source journals, then submit the “Account Analysis Report” in Payables for the particular period and liability account code combination. This will help to get detailed transaction level data.
- Export the output into excel with column sorting options and proceed to reconcile at transaction level to find out the difference between GL trial Balance and AP Trial Balance.
- Then analyze the transaction accounting entries. If any corruption or partial accounting exist.