General Ledger Reconciliation

Overview : GL reconciliation is the process of ensuring that the data in a company's general ledger matches with sales register and purchase register uploaded in the system. It involves comparing transactions, finding discrepancies and errors. It's vital for accurate GST reporting and helps catches reporting issues.

To navigate to General Ledger user can go to Menu > General Ledger > General Ledger Reconciliation.

As the data is uploaded for GL and SR and PR is already available in they system. System can reconcile the data by clicking on Actions > Reconcile Now.

User need to select the source against which they want to reconciliation. User can filter for Source , Location , Month for which they want to view the reconciliation.

System will reconcile the records based on the settings applied. Based on source type reconciliation buckets will be available. Below are the different reconciliation buckets available.

A.      Matched: In this section all the SR/PR transaction and uploaded GL data is matching exactly and will be available in Matched action. It can be filtered from Reconciliations > GL Matched.

B. Mismatched: In this section, It identifies the mismatches between GL and PR/SR after reconciliation. User will able to find the reason of mismatch in Reason field.

C. SR only/PR Only : When the record is available in PR/SR but not available in GL. These records will be available in SR/PR only bucket.

D. GL only : When the record is available in GL but not available in PR/SR. These records will be available in GL only bucket.

To download the reconciliation report user can apply necessary filters and click on Actions > Download Summary Excel/ Download line-item Excel / Download Excel.

To view the reconciliation summary user can go to Reconciliation Summary. It provides the details of Overall document summary , Transaction type-wise Summary , JV Document Summary & Account Type Summary.

To download the reconciliation summary user can click on Actions > Download Excel.

 

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