I would like the ability to have a reconciliation feature on any or all balance sheet accounts. How does anyone manage with the current system to ensure that they know the exact transaction that make up the outstanding balance sheet account amount with the current process. We keep excel spreadsheets for all our balance sheet accounts and reconcile them manually outside the system (it is the reason that it takes us 10 additional days to close our books!!!). I want to be able to clear transactions so that I can print a "detail forward" view of my balance sheet account that list all the amounts that make up the balance sheet amount. Example what transactions are truely outstanding in my suspense account? After 3 years it would be easy to lose a transaction if you aren't keeping up monthly to ensure that you know exactly what you have and haven't cleared. Quickbooks has this function as well as any other basic account system. I don't understand why I can't do this with MAS.
by: Shannon M. | over a year ago | 1 - Financial Management
Comments
Great idea, it would also be useful to have a notes field that could be updated. Many times the data in GL is not enough to easily identify what the transaction is. I do the same thing, keep spreadsheets to keep track of certain accounts and have more detailed info to explain what some of the transactions are.
The reconciliation functions were never implemented, but if you post in detail then the GL transactions can be traced down to their sub-ledger origins in most cases. You can see this in the GL Transactions Explorer / Manage / View Source Transaction. The GL Activity Report in detail also shows the originating transactions, all provided you are posting in detail because it generally will only show the batch information if you post in summary.