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How To Tie Out AR Month End
Period-End Reconciliation.
1) Last Month Beginning Aging = $_____________
Ending Aging = $_____________
Change $_____________A*
2) Sales Journal Invoices = $_____________
Sales Journal Payments = $_____________
Change = $_____________B*
3) Total Change to AR = $_____________(Debits)
on Distribution Report = $_____________(Credits)
$_____________C*
*A, B, and C should equal to each other.
If you are out of balance:
1. Check the date ranges of the current period's Aged Receivables report and the Sales Journal. Be sure they correspond as the As Of Date specified for the Distribution to GL report.
2. Make sure you subtracted any realized and unrealized exchange gains and losses from the Total Change to AR debit and credit amounts before verifying totals.
3. Make sure you did not include future transactions in the Aged Receivables Report.
4. Check to see if the Distribution to GL report includes invoice, credit memo, or payment distributions that were entered and posted to previous periods since the last month-end closing.
5. Correct mistakes properly through the use of credit memos or new invoices.
