How Do You Research A/P out of balance in Control Account Reconcile?
Explanation: In the following example, the Accounts Payable is out of balance.
Click hyperlink in General Ledger column for Accounts Payable.
A new tab will open labeled General Ledger Transactions. Modify the custom date to be “First Known” (00/00/00) through 12/31/19 (the date you are trying to balance to). Click Save.
Group the List by Vendor (since we are looking for Accounts Payable out of balance) .
4. Start by looking at Vendor 0 (zero) (transactions without vendor numbers). You could have conversion transactions with the source of Payables-New and Ledger. These conversion entries should net to zero. If not, you will need to make the necessary adjustment to correct these conversion entries. If your 2015 is currently in balance, you will need to do an adjustment to 2014 and then reverse it out in 2015 so 2014 is back in balance and 2015 stays in balance.
5. If the out of balance issue is not found here (or only partially here), keep this List open for comparison purposes and return to the Ledger Reconciliation and Click the hyperlink in the Open column. A new tab labeled Payables will open.
Be sure the ending custom date is 12/31/2019.
Follow the same steps to group this report by “Name” (Vendor Name)
Compare the two lists vendor by vendor to see which do not match.
Once the vendor is located, the Account List can be grouped further by “Bill Invoice” and the Payables List can be grouped further by Reference to determine the exact vendor bill that is causing the discrepancy.