General Ledger - Monthly Tie-Out Processes for AR, AP and JC

This article contains monthly tie-out processes for AR, AP and JC.

1. After AR and AP have been posted, run the following reports for all companies in your environment:

  • AR – Aged Detail Report (AR1000D)

  • AR – Aged Summary Report (AR1000S)

  • GL Trial Balance by Account Report (GL2000) for AR subledger control accounts (current AR and current Retainage)

  • AP – Aged Detail Report (AP1000D)

  • AP – Aged Summary Report (AP1000S)

  • GL Trial Balance by Account Report (GL2000) for AP subledger control accounts (current AR and current Retainage)

2. Tie-out for AR:

  • The AR Aged Detail totals should equal the totals on the Summary report.

  • The AR Aged Detail total outstanding receivables should equal the ending GL Trial Balance for the AR current receivables control account.

  • The AR Aged Detail total retention should equal the ending GL Trial Balance for the AR retention control account.

3. Tie-out for AP:

  • The AP Aged Detail totals should equal the totals on the Summary report.

  • The AP Detail total outstanding payables plus discounts should equal the ending GL balance (Trial Balance report) for the AP subledger control account.

  • The AP Detail total retention should equal the ending GL balance (Trial Balance report) for the AP retention control account.

4. After the billing and payroll have been posted for the month, run the following reports for all companies in your environment:

  • JC – Cost Detail Report (JC260)

  • JC – Cost Summary Report (JC7000)

  • GL Trial Balance by Account Report (GL2000) for your JC control accounts.

5. Tie-out for JC:

  • The JC Detail costs will equal the JC Summary costs.

  • The JC Detail costs will equal the GL balance for the JC Control account.

  • Tie out to the GL Trial Balance:

    • All cost types (Labor, Material, Subcontracts, Equipment, etc.) should tie out to their respective GL cost accounts.
    • All billing types should tie out to their respective GL revenue accounts.

Monthly Close Checklist

Monthly Close Checklist Company Code Company Code
Bank Recs    
Main Operating Account    
Payroll Account    
Petty Cash Account    
Subledger Review    
Payroll    
Requisitions    
Purchase Orders    
Inventory    
Equipment    
Fixed Assets    
Preventative Maintenance    
Subcontracts    
Accounts Payable    
JB Billings    
Accounts Receivable    
Monthly Entries    
JC Transactions & Accruals    
Store Contract Forecasts    
WIP Adjustments    
GL Transactions & Accruals    
Monthly Reconciliations    
AR Aging Detail    
AR versus GL Reconciliation    
AP Aging Detail    
AP versus GL Reconciliation    
JC Detail    
JC versus GL Reconciliation    
Closing    
GL Maintenance / Review    
AP Maintenance / Review    
AR Maintenance / Review    
AP over 90 Days    
AP Invoice Registry    
AP / AR / JC Tie-outs    
Close Subledgers    
Set Control Files to next period    
Close General Ledger    
Monthly Reports    
Financial Statements    
Management Reports    

Monthly Processes

Monthly Processes Company Code Company Code
AP Processes    
Define month end cut-off    
Review unposted AP and RFP batches    
Review registered invoices and subcontract RFPs    
Review recurring invoices    
Post approved invoices    
Review unposted payment selections and groups    
Close POs completely filled and AP invoices posted    
Close AP period    
AP vs. GL reconciliation    
AR Processes    
Define month end cut-off    
Review unposted JB batches    
Ensure all job billing draws have been completed and posted    
Review unposted AR batches    
Close AR period    
AR vs. GL reconciliation    
EM Processes    
Review equipment transfers and usage    
Review unposted batches    
JC Processes    
Review unposted batches    
Accrue JC costs    
Review status of PCIs    
Review WIP    
Review job/contract status    
GL Processes    
Review unposted batches    
Review recurring entries    
Review bank transfers    
Review bank charges    
Allocate cost pools    
Bank reconciliation    
Close GL period    

Reconciliation Utilities

These utilities are used for routine verifications and to verify imported and converted data. They identify batches with which the subledger (AP, AR, JC) module's account of its GL postings are inconsistent with the GL module's account of its postings. These batches are referred to as inconsistent batches, and they are listed in the Inconsistent Batches section.

Accounts Payable

Pgm: APGLBCH – AP vs GL Verification; standard Treeview path: Accounts Payable > Utilities > AP v/s GL Verification

For more information on this utility, please see Accounts Payable - AP vs GL Verification.

Accounts Receivable

Pgm: ARGLBCH – AR vs GL Verification; standard Treeview path: Accounts Receivable > Utilities > AR v/s GL Verification

For more information on this utility, please see Accounts Receivable - AR vs GL Verification.

Job Costing

Pgm: JCGLBCH – JC vs GL Verification; standard Treeview path: Job Costing > Utilities > AR v/s GL Verification

For more information utility, please see Job Costing - JC vs GL Verification.