Hi - I am struggling to reconcile the historical creditor listing at our year end with the balance sheet - I have taken account of the unallocated payments and I’ve found a payment against invoice QF01535 of £493.86 and £45 against QF01133, but I still have a difference of £1734.07?
I am now trying to reconcile July 2013 and have an even larger difference of £2745.52?
This could be affected by journals and opening balances that would appear on the BS but not within the historic invoice report.
Hi - there are no journal entrie in this account and the opening balances were zero?
You will need to cross-check against your ledgers, it could also be due to pre-payments. The thing is you are comparing two different reports, that are not likely to produce the same figures. If you can provide the exact date you’re are checking if we have time we will take a look to see if we can isolate the differences.
Hi Glen - when you say prepayments do you mean where we have set a payment against a future invoice? I don’t suppose there is an easy way of working this out without ticking everything, which would take days. I have excluded unallocated payments.
Payments that are allocated to a client account but not yet (at the specified report date) allocated to any invoice. It is indeed very difficult to work out manually, although we are working on including this information on the report. This information is likely to be available on the report next week we when roll out some updates.
Hi Glen - thank you for the update - I will wait till the update and see if this solves the problem. Cheers, Russell
Thanks, in the mean time do you have any specific dates you are struggling to reconcile? We can use this as a test case before we go live.
Hi Glen - yes I am doing my year end of 30 June 2013 - so if you could reconcile this then that would be wonderful!
The prepayments are now itemised on this report. The total prepayments will appear in the top right hand section.
Deduct this figure from the balance of all outstanding invoices on the date of inquiry and you should be left with a figure that matches the balance sheet total for the debtor or creditor control accounts.
You can obtain a breakdown of the prepayments figure if you download the CSV report. Hope that helps!
Hi Glen - brilliant, thank you for this, much better!!