Balancing General Ledger to Subsidiary Ledgers in GP
Balancing General Ledger to Subsidiary Ledgers in GP
Objectives
My Experience
Resources https: //dynamicsgptipsandtraps. wordpress. com Google: Dynamics GP 866570 Google: Dynamics GP 951236
Best Practices
Best Practices
Best Practices
Internal Control & SQL Queries
Disaster Recovery Seriously, to edit Click Always remember, master title There is no such thing as a redundant backup. style
Best Practices: Setup
GL Setup: Exclude Users from selecting Cash/AP/AR control accounts as offset accounts Click to edit master title For example, this keeps users style form entering the cash account number as the GL Distribution for expenses, thinking that the expense needs to come out of cash.
RM Setup: Always allow a minimal write-off amount This enables your cashiers to write-off hanging pennies when recording cash receipts. RM/PM Account Setup Review AR/AP setup for classes and customers/vendors. Note: Message means GP will only roll down your changes to the customers (or vendors), GP will not roll down all field values in the class setup window. Click to edit master title style
Preventing Posting to Incorrect Fiscal Periods Setup: only leave unmarked the current periods open for transaction posting. Doc Date Verify: Keep users from posting a transaction in the year 2525, or any other undefined fiscal period. Click to edit master title style This is the trick to add the Professional Tools to the Great Plains main window. Right Click then Add
Best Practices: Bank Reconciliation
Best Practices: Bank Recs and Cash
GP 2015 Automatically Posting Deposit: Cash Receipts Batch Deposits for cash receipts that have not been gathered into a deposit slip are a common reason for the bank reconciliation to not balance to the general ledger. This new feature will create a bank deposit for all transactions in a cash receipts batch. Blog on Auto Deposit CR Batch Click to edit master title style
Troubleshooting: RM/PM Trial Balance
Primary RM/PM Troubleshooting Tips
Select Proper RM/PM TB/HATB Printing Options Always use the w/ Options TB reports. Retain default options to include CREDIT BALANCES and exclude UNPOSTED CM. For the HATB reports, print GL Posting Date. NOTE: Detail TB, Summary TB, Detail HATB, and Summary HATB are different GP Reports. NOTE: You need to customize report if you have over five aging buckets. Click to edit master title style
Reconcile to GL function This function compares the detail in the GL to the RM/PM amounts. Enter the RM/PM control accounts for receivables/payables, make sure you entered all the control accounts. You only need to consider the reconciling items on this report, GPKB 866570 says you can ignore the rest of the report. My blog has SQL queries which duplicate this functionality for receivables. Click to edit master title style
Your GL Still Does Not Balance to RM/PM TB Review GP KB 866570
Searching Long TB Reports ELECTRONICALLY Click totoedit Print the report screen, and you can find any TEXT in the master report instantly. title TEXT means you also need to include style commas in the FIND TEXT. Usually this does not find the out-of-balance trial balance amount, but sometimes you get lucky.
Reviewing PM/RM Accounts in GL
RM Unapply Function: Professional Tools needs to be manually added to the GP menu. You simply click on the transactions you wish to UNAPPLY. This does the reverse of Paid Transaction Removal, this removes the matched invoices, credit memos, and payment FROM history and places them into the RM TB table. Click to edit master title style
RM Unapply Function (slide 2): Professional Tools Important: First select REPORT ONLY, The Trx/Apply amounts, and the invoice/payments should balance. If they do not balance, there is probably something wrong with the data. Click to edit master title style
Entering GL AJE for PM/RM/POP transaction using a zero transaction Benefits: Reduce the number of GL AJEs, keeping your auditors happy. The reclassifying AJEs will be associated with the proper customer or vendor, keeping your BNI reports happy. NOTE: You should only use one TYPE code, PURCH in this example, for the AJE. Or maybe MISC. Click to edit master title style
Troubleshooting: HATB Considerations
Special RM/PM HATB Considerations
Often HATB Errors can be fixed with SQL queries. Usually the data errors that cause HATB reports to go out-of-balance are due to RM/PM batches that were interrupted during posting and did not properly update the historical apply-to tables. Or there may be discount issues. Often the problem transactions will not foot in the HATB detailed report. My blog has an extended discussion about how to write the SQL queries to fix the HATB balances. OR, you can delete the transactions and re-process them, which may not be practical. Click to edit master title style Note: This is a typical transaction error that will cause the HATB to be out-of-balance. There is no AMOUNT REMAINING, but the Document Amount does not equal the sum of the Applied Amounts.
Troubleshooting: POP RNI (Shipments Received But Not Invoiced Report)
POP RNI Report The RNI balance is often a significant liability that must be balanced and tracked. Click to edit master title style The RNI Report is one of the Purchasing Analysis Reports.
Reconciling POP RNI Report to GL Review GP KB 951236 on balancing the RNI to GL
Writing Off POP RNI by Closing Purchase Orders If you close a purchase order where the shipments received have been to partially invoiced, a Click edit journal entry will be master title generated for the un-invoiced items. You should review the style journal entry; the item cost may not be what you expect. This window should be used to close PO’s that have no shipments received or anticipated.
Using POP Returns to Write-Off RNI Transactions Using this method, select the type RETURN to generate a GL entry reversing the RNI transaction, which you should review. This is my preferred method for writing off RNI amounts. You can copy and paste (to avoid transposition) the old document number and add “-RET” so the link between the original and return transactions is explicit. Click to edit master title style
More RNI Tips I found this advice from Richard Whaley Mark Polino also has a good blog on keeping the RNI Report balanced.
Resolving RNI Posting and Balancing Issues
Reconciling POP RNI Report to GL GP 2015 R 2 introduced an historical RNI report, I do not know how useful it is. If the posting of a POP Receipt batch is interrupted, you may need to write a SQL query to eliminate duplicate transactions, or create missing transactions. My blog has an extended discussion.
Are there any questions? Thank you for attending! Please complete your survey. But, please do not do this: Click to edit master title style
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