Each month, a calculation should be done to ensure that the system is in balance. An Excel spreadsheet is an easy way to set up this balancing and save it for next month.
ATB2: Aged Trial Balance Summary from Prior Month
ARDEF2P: Sales Report by G/L Code
LSTCSHP: Cash Receipts Summary
ATB2: Aged Trial Balance Summary from Current Month
LSTGLFP: Automatic Journal Entries report for Miscellaneous Cash Receipts
|
Aging from Prior Month |
A |
|
Sales Report by G/L Code from current month |
B |
|
Cash Receipts Summary from current month |
C |
|
Calculated Aging |
D = A + B - C |
|
Aging from current month |
E |
|
Difference |
F = D - E |
|
Miscellaneous Cash Receipts |
G |
|
Net Difference |
F - G |
Net difference should be 0.
Since Miscellaneous Cash Receipts will be in the Cash Receipts Summary (C) total but not included in the Aging, the total of Miscellaneous Cash Receipts should be subtracted from the difference.