To balance the Accounts Receivable sub-ledger to the General Ledger Control Accounts is fairly simple, but may require some manual calculation. Normally there will be no difference between the two totals. To arrive at the balanced totals there are two methods.
Both methods require that you determine whether you are using a separate General Ledger account for deposits taken from customers or not. If you are unsure of your company’s set up, you can find out by following the steps below.
1. Go to the General Ledger Menu.
2. Select ‘Set up special accounts’
3. On the first screen note the account number entered on the line for Accounts Receivable.
4. Proceed to page 2 and then note the account number entered on the line for Deposits from customer.
If the account number from 3 and 4 are the same, then deposits and receivables are posting to the same account. If the account numbers […]