Historical aged trial balance

How do you bring your historical aged trial balance in line with your General Ledger if they have repeatedly been off the same amount for years?

  • Reconciling balances between sub-ledgers and the general ledger is part of life when is comes to GP. Once your balances are created as part of the implementation, it is the responsibility of the accounting / finance team to maintain the balances going forward on a monthly basis. However, this not always the case which is why the HATB report exists.

    I understand that your GL account balance (AP or AR ?) is correct, but the corresponding sub-ledger balance is incorrect (by a fixed difference) and has been for years. If this is accurate, I would recommend using the HATB report and GL trial balance report to identify when the difference occurred (when did it last balance?). Once you have identified this point, you can work forward through the monthly transaction detailed to find the transaction(s) which caused the discrepancy and resolve accordingly.

    Each sub-ledger has a set of adjustments entries which can be used to adjust vendor or customer balances as needed.
    (e.g. Credit Memo, Debit Memo, etc.)