[GL] Best Practices for Month End Close & Reconciliation

GL – Month-End & Missing Batches

Find a Missing Batch

1.  Go to HQ > Programs > HQ Batch Control. 
2.  Enter MM/YY, click Grid. 
3.  Sort by Status and look for unprocessed batches. 

Cash Management (CM)

Monthly Reconciliation

1.  After monthly activity, open the CM Statement and clear bank items. 
2.  Perform the Bank Reconciliation. 
3.  Close the statement in CM Statement Control. 

Reports & Tie-Out

•  Print CM Account Statement Report to find missing transactions. 
•  Run CM Transactions Report and compare to GL Trial Balance. 
•  Ending totals must match. 
•  You can filter both reports by Source (AP, AR, etc.). 

Accounts Receivable (AR)

AR to GL Reconciliation

1.  Run AR Customer Accounts by Customer report. 
   •  Page to the end → check AR Recap for multiple Receivable Types. 
   •  Enter Ending Month only, All Transactions, Detail. 

   • Note GL accounts and ending balances for receivable and retainage. 

2.  Run GL Trial Balance for receivable and retainage accounts. 
3.  Compare totals. If they don’t match, repeat for prior months until they do. 

AR Aging Review

•  Run AR Aging Report. 
•  Identify positive and negative balances that can be cleared with a $0 Cash Receipt (ensure retainage is properly released). 

Troubleshooting

•  Confirm GL Beginning Balance Update has been run (especially for new fiscal years). 
•  If out of balance, find the last month that reconciled and work forward. 
•  If multiple Receivable Types share a GL account, reconcile each type separately. 

Accounts Payable (AP)

AP to GL Reconciliation

1.  Compare AP Open Payables Report to GL Trial Balance. 
2.  If out of balance, check prior months to find where it last matched. 
3.  Run AP Check Register (not by date) and compare to GL 

   • Filter GL by Source = AP, Journal = Cash. 

4.  Run AP Batch Transaction Report and total it (Excel helps). 

   • Compare to GL Trial Balance (Source = AP, Journal = Expense). 

5.  Check for postings from other sources to the AP GL account. 
6.  Review HQ Batch Control for batches posted with GL interface turned off. 

Inventory (IN) – Missed Monthly Reconciliation

1.  Post Inventory batch with GL interface off (Inventory only). 
2.  Print Inventory batch reports. 
3.  Perform IN Monthly Reconciliation. 
4.  Set IN Company Parameters → GL Adjustment Interface = NONE. 
5.  When users are off, reopen subledgers in GL Month-End Close. 
6.  Restore GL Adjustment Interface setting. 
7.  Reclose the GL month. 
8.  Use IN batch reports to post a GL Journal Entry in an open month. 

Job Billing (JB) to Accounts Receivable (AR)

1.  In AR, run AR Customer Accounts by Contract: 
   •  Look for payments posted directly to retainage. 
   •  If unchangeable, correct with a $0 Cash Receipt. 

   • Identify AR adjustments (JB will not reflect AR-only adjustments). 

2.  In JB, run List of Bills per Contract: 
   •  Bills not interfaced will not appear correctly in AR. 

   • Interface all bills (even from closed months via Change Status). 

3.  Compare JB List of Bills per Contract to AR Contract Billings and Receipts: 
   •  If invoice exists in AR but not JB, check for non-interfaced bills or wrong customer. 

   • Either create a Never-Interface bill in JB or delete/recreate the AR invoice properly. 

4.  Run JB Manual Update Process to refresh bill totals. 

Note:

• AR Write-Offs do not update JB or JC and will not appear on AR Contract Billings and Receipts reports.