Aged receivable report and Sales register dont reconcile

[MaroniteV]

Sales report and GL report dont reconcile. Apparently, the GL report picks up the payment made after the report date too. I need them to reconcile for the audit purpose. Please help.

[Mike_James]

Hi @MaroniteV , the aged receivable reports include the balances of all open invoices regardless of the date you enter, which is purely for aging purposes. 

I recommend using the receivables (and payables) reconciliation reports, where the date is a cut-off date, and the report can therefore be backdated. It should then agree to the debtors account in a balance sheet report as at the same date. If the receivables report shows a difference (out of balance), that should be investigated. 

[MaroniteV]

Thank you Mike

unfortunately it didnt work, 

please refer to the screenshot attached. 

please help

[Mike_James]

Hi @MaroniteV , that is a valid report, but it is telling you that the GL account for debtors does not agree with the total of your receivables at the same date. You need to investigate why that is. 

You could start by going back to the date of the last finalised set of accounts, and run the report at that date. Does it balance or not?  If not, don't attach the report here, just quote the 3 figures at the end:

Total receivables

Receivables account

Out of balance amount

When was the file first used?

[MaroniteV]

Thank you Mike, 

It never reconciled. It works well will aged payable though. 

I wamted this be fixed so that i dont have to explain this over and over to the auditors.

Please help.

[Mike_James]

Hi @MaroniteV , there's a limit to what can be done on the forum. Have a look at https://help.myob.com/wiki/display/ar/Receivables,+payables+or+inventory+out+of+balance?searchfacet=... for some ideas. 

[Mike_James]

Hi @MaroniteV , you may have received only a short message from me, I clicked on Post too soon, sorry about that!

[Mike_James]

Hi @MaroniteV , have you made any progress in resolving this issue? 

[MaroniteV]

Unfortunately not. 

I will explain the variance and the software issue to the auditors. Let's see if they recommend changing the software, if so it will be an easy decision for me. Not happy with MYOB.

[Mike_James]

Hi @MaroniteV , as it stands there's a $68,000 adjustment to go into the GL (Dr Debtors, Credit ? Income) at June, so I suspect your auditors will require some facts to support it. Have you tried running the receivables exception report (in the company data auditor), and does that have any pointers? I'd be happy to review your file to see if I can highlight any causes; if that's of interest, please email me for an off-forum discussion.