Accounts Receivable Reconciliation
Posted October 03, 2018
The reconciliation of accounts receivable is the process of matching customer balances to the accounts receivable total stated in the general ledger. This matching process is important because it proves that the general ledger figure for receivables is justified.
There are two primary methods of accounts receivable reconciliation:
1. Reconciling Customer Balance to A/R Aging Report.
2. Reconciling Customer Balance to General Ledger.
To reconcile accounts receivable account:
- Navigate to Finance > AR > Customers screen.
- Click the “Balance” column.
- Specify balance parameters. For more information, see Customer Balance Configuration.
- Click Finish.
At the bottom of the screen, review the total customer balance for your Accounts Receivable account as you can then compare that to the A/R Aging report and/or to the general ledger.
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