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Aging AR - Balance Sheet AR

  • 1.  Aging AR - Balance Sheet AR

    Posted Jul 14, 2021 09:41 AM
    Edited by Lukas Sundahl Jul 14, 2021 09:42 AM
      |   view attached
    Situation:

    When we run the canned NAV "Aged Accounts Receivable" report it does not tie to the Balance Sheet AR balance. We run them as of the same day, but the results have a variance.

    • What might be causing the variance between the aging report and what is reflected in the AR Balance Sheet account? 

    Thanks in advance for your ideas/suggestions on a remedy.

    #Functional #NAV2017 #BC/NAVPlus

    ------------------------------
    Lukas Sundahl
    Solutions Through Innovative Technologies
    Tulsa OK
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    ​​​


  • 2.  RE: Aging AR - Balance Sheet AR

    NAVUG ALL STAR
    Posted Jul 15, 2021 01:37 AM
    Two things to check to start with.  First, check to see if there are any non-"System-Created Entries" in the general ledger account.  Second, what date option are you using when running the aged A/R.  Running by Transaction Date may also be the best option when trying to tie to the G/L.

    ------------------------------
    David Wiser
    Sr. Solution Consultant
    Tigunia
    BCUG|NAVUG Board of Advisors
    BCUG|NAVUG Programming Committee
    BCUG|NAVUG All-Star
    ------------------------------



  • 3.  RE: Aging AR - Balance Sheet AR

    Posted Jul 22, 2021 01:57 PM
    Thanks David!

    I found the issue. There were some journal entries done when we were trying to build historical financial information and before we generated sales invoices in our live environment.

    For some reason we had 3 invoices where the detail was applied to the G/L, but it did not hit the Customer Ledger. I am not sure how an entry was posted directly to the G/L without hitting the customer ledger at the same time as we used templates for the entries.

    Currently I have the AR and Customer Ledger in balance, but in doing so I have 3 open items in the Customer Ledger.

    How can I get these open invoices to reflect as closed without impacting the GL AR Balance and Customer Ledger balance?

    We are generating invoices like normal now, so this won't happen again but I want to remedy these 3 invoices that led to our current variance.

    Thank You!

    ------------------------------
    Lukas Sundahl
    Solutions Through Innovative Technologies
    Tulsa OK
    ------------------------------



  • 4.  RE: Aging AR - Balance Sheet AR

    NAVUG ALL STAR
    Posted Jul 15, 2021 08:58 AM
    Did it ever balance?  if so, sometime since the last time the report tied to the G/L balance someone posted a transaction directly to the accounts receivable G/L account.  Or someone added a new Customer Posting Group and did not assign your Accounts Receivable G/L Account to that new Customer Posting Group.

    ------------------------------
    Robb Delprado
    Senior Trainer and Consultant
    New View Strategies
    robb@newviewstrategies.com
    860.558.8032
    Houston, TX
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  • 5.  RE: Aging AR - Balance Sheet AR

    Posted Jul 22, 2021 01:59 PM
    It did tie out prior to the one period where the invoices hit only the GL and not the Customer Ledger. Every customer is set up with a customer posting group that connects to the AR account.

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    Lukas Sundahl
    Solutions Through Innovative Technologies
    Tulsa OK
    ------------------------------



  • 6.  RE: Aging AR - Balance Sheet AR

    TOP CONTRIBUTOR
    Posted Jul 15, 2021 09:22 AM
    Hello Lukas,

    There are a few reasons for your variance and I may not capture them all.
    1.  Look throug the GL detail to see if anyone posted a journal entry directly to your balance sheet account.
    a.  Do you allow "Direct Posting" to the GL account?  Navigate to the G/L Account Card and look to see if Direct Posting is checked.
    2.  Check to see how your posting groups are set up.
    3.  Do you conduct business in multiple currencies?  If you do, you many need to run an adjustment for currency exchange rates.


    ------------------------------
    Kristina Frank
    Controller
    Cline Tool & Services
    Newton IA
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  • 7.  RE: Aging AR - Balance Sheet AR

    Posted Jul 22, 2021 02:01 PM
    Hi Kristina,

    1) How do I verify in the GL detail any entries that were posted directly to the balance sheet account and bypassed the customer ledger?

    2) I think our posting groups are set up properly after reviewing.

    3) We only operate in USD currently.

    ------------------------------
    Lukas Sundahl
    Solutions Through Innovative Technologies
    Tulsa OK
    ------------------------------



  • 8.  RE: Aging AR - Balance Sheet AR

    SILVER CONTRIBUTOR
    Posted Jul 15, 2021 10:05 AM
    Try the Customer - Trial Balance report. If there is foreign currency involved, the trial balance shows the historical rate applied. The Aged Accounts Receivable calculates the balance based on the current exchange rate.

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    Tim Metz
    Shin-Etsu MicroSi, Inc
    Phoenix AZ
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  • 9.  RE: Aging AR - Balance Sheet AR

    Posted Jul 22, 2021 02:01 PM
    Thanks Tim!

    ------------------------------
    Lukas Sundahl
    Solutions Through Innovative Technologies
    Tulsa OK
    ------------------------------



  • 10.  RE: Aging AR - Balance Sheet AR

    Posted Jul 15, 2021 10:34 AM
    Hi Lukas,

    The first think I would check is if there are any manual entries in the G/L.

    ------------------------------
    Karen Vernon
    Melco International
    Westminster CO
    ------------------------------



  • 11.  RE: Aging AR - Balance Sheet AR

    Posted Jul 22, 2021 02:02 PM
    Thanks Karen!

    I found the issue. There were some journal entries done when we were trying to build historical financial information and before we generated sales invoices in our live environment.

    For some reason we had 3 invoices where the detail was applied to the G/L, but it did not hit the Customer Ledger. I am not sure how an entry was posted directly to the G/L without hitting the customer ledger at the same time as we used templates for the entries.

    Currently I have the AR and Customer Ledger in balance, but in doing so I have 3 open items in the Customer Ledger.

    How can I get these open invoices to reflect as closed without impacting the GL AR Balance and Customer Ledger balance?

    We are generating invoices like normal now, so this won't happen again but I want to remedy these 3 invoices that led to our current variance.

    Thank You!

    ------------------------------
    Lukas Sundahl
    Solutions Through Innovative Technologies
    Tulsa OK
    ------------------------------



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