Investigate differences between ledgers

To investigate the differences

Note: This should be done on a copy of the live data.

  1. Check the Reconciliation Settings in the Nominal Ledger.

    Reconciling sales Select all the debtors control nominal accounts in the Reconciliation Enquiry settings.
    Reconciling purchases Select all the creditors control nominal accounts in the Reconciliation Enquiry settings.
  2. Check which control nominal accounts are included in the View Closed Period Balances window.

    Reconciling sales

    The Nominal Control Total shown on the View Closed Period Balances depend on the default nominal account settings for the Debtors Control account.

    Reconciling purchases The Nominal Control Total shown on the View Closed Period Balances depend on the default nominal account settings for the Creditors Control account.
  3. Open all periods for the year.

    This makes sure that any waiting postings are posted to the correct period.

  4. Update the waiting postings in the nominal ledger.

    This makes sure all transactions entered in the sales or purchase ledger are also posted to the nominal ledger.

  5. Check the suspense account as follows:

    Reconciling sales

    Check the suspense account for any transactions that should be posted to the debtors control nominal account.

    Journal out any sales ledger transactions. Make sure these are dated in the same period as the original transactions posted to the suspense account.

    Reconciling purchases

    Check the suspense account for any transactions that should be posted to the creditors control nominal account.

    Journal out any purchase ledger transactions. Make sure they are dated in the same period as the original transactions posted to the suspense account.

    This makes sure that the Closed Period Balances are updated correctly.

  6. Now close the periods that were closed before, to update the close period balances.
  7. Use View Closed Period Balances to find out when the sales or purchase ledger and nominal ledger last matched.

    If the ledgers matched in the past, start with period directly after the balanced period and work forwards.

    If the ledgers have never matched, start with the most recent period and work backwards.

  8. Select the period required in the reconciliation enquiry window:
  9. Reconciling sales Open the Debtors Reconciliation Enquiry and select the period you require.
    Reconciling purchases Open the Creditors Reconciliation Enquiry and select the period you require.
  10. Produce a retrospective report for the end of the period you require.
  11. Reconciling sales Produce a retrospective aged debt report.
    Reconciling purchases Produce a retrospective aged creditors report.
  12. Check the enquiry and report.
  13. Reconciling sales

    Check the Debtors Reconciliation Enquiry and aged debt report.

    Reconciling purchases Check the Creditors Reconciliation Enquiry and aged credit report.

    for:

    • Any opening balance transactions entered during that period.
    • Any journals posted directly to the control account in the nominal ledger in that period.
    • Any transactions where the transaction date is different to the accounting period.
    • Any transactions where the transaction date and allocation date span more than one accounting period.
    • Any allocation transactions which span more than one accounting period.
    • Any currency adjustment transactions where the transaction date is different to the posting date.
    • These transactions have a reference of Revalue in the nominal ledger.

    There may be many transactions, with any of the listed situations, that can account for the difference between the sales or purchase ledger and nominal ledger.