When you’re trying to reconcile either the accounts receivable or accounts payable detail to the general ledger control – use the trial balance report in the payables or receivables module and not the aging report.The trial balance report in either accounts payable or accounts receivable reconcile based on posting date. Trying to agree the subsidiary AGED INVOICE instead of TRIAL BALANCE report to the general ledger (via Michael Pruet).Here’s a good tip from consultant Michael Pruett. Just be sure you do schedule time to make that reconciliation.8. Investigate any discrepancies immediately when you’ll still have a prayer of spotting them in under 12 hours because everything is fresh in your mind.And while you’re at it eat better, exercise and take your vitamins.Īll things we know we ought to do – but too often don’t.Tip: If you have large variances and can’t afford a lengthy immediate reconciliation, consider making an adjustment to bring things into balance and leave the reconciliation for a time when you can devote your full attention. Failing to reconcile the subsidiary ledger detail balances (accounts payable, accounts receivable, inventory) monthly to the general ledger control totals.What, you mean nobody ever told you that your debits were supposed to equal your credits?At a minimum reconcile all your subsidiary reports (accounts payable aging, accounts receivable aging, inventory valuation) to your general ledger accounts. Face it, nobody will remember what happened a year ago to cause the balance on your general ledger to stop agreeing to the subsidiary reports (accounts payable listing, etc.). Remember you may also need to backup paperless office files and any third party data that is stored outside the MAS90 folder.It’s far easier to reconcile an incorrect balance within 30 days of when it occurred than a whole year later. The backup company comes in handy for researching old information, reprint payroll reports and in general, is your safety net in case of the main backup failure.Come to think of it – anytime you’re unsure of how a transaction is going to turn out (booking a reversal of an invoice) just make a backup company and first test the transaction in the backup company before performing it live.Tip: Use File – Run –.INFO to see exactly where your Sage 100 data is being stored. Best practices followed by veteran Sage 100 users say to create a backup of your data before the year end close (In version 4.x and higher you’ll do this in company maintenance – versions before 4.x use the File – Run SVDATA trick).
Not making a backup company at year end.As mistakes go, this one’s a teeny little one.
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