Daily Reconciliation

The Daily Reconciliation report pulls together data values from the general ledger and subsidiary reports so as to calculate variances between the gl account balances against the reports. Reviewing this report on a daily basis for new variances will limit the scope of transactions to research to just the prior-day's activity. Researching the cause of these discrepancies will typically isolate where posting accounts are set up incorrectly or where user actions may be taking improper steps.

The report compares Unmatched Inventory balances, Inventory Valuation, Accounts Receivable, and Accounts Payable. In the upper report section, the left-side lists the data values from the general ledger and the right-side lists the values retrieved from various reports. The middle of the report (Summary Comparative Variance) performs the calculations of variance amounts for Unmatched values and the Inventory valuation. The lower section performs variance calculations on the AR and AP values.

The Daily Reconciliation report is intended to be ran nightly after all transaction activity has ended for the day and Aging and Chart Of Account balances have been refreshed. This report should be set up to be emailed as an automated Report Subscription.

Daily Reconcile.pdf