Reconciliation
Many Dynamics GP users are not familiar with the tool built into GP that assists with the reconciliation process. Many transactions can be matched or identified as unmatched using the built in reconciliation tools of GP. Out of the box Dynamics GP can attempt to reconcile the subledger transactions to their general ledger counterparts for the receivables, payables, inventory and chequebook modules. This is a very handy tool that alleviates a lot of the initial tick and tie work, but it won’t help you get to the bottom of what actually caused the exceptions in the first place. For that you need a more advanced tool such as The Closer from Reporting Central.
In Dynamics GP, The Closer automates the process of reconciling the various Sub-Ledgers to the General Ledger, ensures your books will balance and that the quality and integrity of your data will be maintained to the highest level.With The Closer, month, quarter and year-end processes are completely streamlined and the reconciliation process will be faster than anyone ever thought possible.
In seconds, The Closer reconciles the following Sub-Ledgers to the General Ledger:
- Accounts Payable
- Accounts Receivable
- Cash
- Sales
- COGS
- Fixed Assets
- Tax
- Accrued Purchases (received not billed)
- Intercompany
- Inventory by Site/Class
- HITB Inventory by Site/Class
- Customer Deposits