Tip of the Week: Comparing Balances Between Two Reports

Comparing Balances Between Two Reports
Comparing Balances Between Two Reports By: Eran Asayag Have you ever try to crosscheck G/L Account or business partner open balance from Balance sheet report by going into their balance and check to Display ”Unreconciled Transactions Only” you find out that it does not always present the same balance. The only time the Reconciliation will work and match the Balance Sheet is for the current date. At year-end companies are making January A/P postings to receipts made in December, and the ability to run the Reconciliation does not work at year-end as they are not able to use the current date at year-end. The solution is to use a general ledger report and set the selection criteria as follow:
  1. Check the posting date:
    1. From- beginning of the company activity, 01/01/2000 for example.
    2. To – 12/31/2015 in our example.
  2. Choose an opening balance from the start of company activity.
  3. Display not fully reconciled.
  4. Check to consider the reconciliation date.
At this point, you can press ok and run the report, when the report is displayed make sure to display the column “Cumulative Balance Due (LC)” which will present the balance you look for.

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