Difference between revisions of "Why do my Debtors/Creditors not Agree to my Balance Sheet?"
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{{Warning|text=Only in exceptional circumstances should any journals be done to {{DataValue|Z993/Z994}}, since this will most definitely cause a mismatch between the ledger balances and the balance sheet. End of year audit adjustments should either be posted against the individual creditor or debtor through the appropriate ledger, or to separate nominal codes for provisions.}} | {{Warning|text=Only in exceptional circumstances should any journals be done to {{DataValue|Z993/Z994}}, since this will most definitely cause a mismatch between the ledger balances and the balance sheet. End of year audit adjustments should either be posted against the individual creditor or debtor through the appropriate ledger, or to separate nominal codes for provisions.}} | ||
| − | * To check for journals to the controls, go to "{{SL}}" -> "Sales Reports" -> "Accounts Report Generator" and search for a report entitled {{DataValue|Manual Postings to Z993/Z994}}. If you do not have this report, please {{SupportContact}} or click [http://www.catalyst-uk-support.com/kb/ | + | * To check for journals to the controls, go to "{{SL}}" -> "Sales Reports" -> "Accounts Report Generator" and search for a report entitled {{DataValue|Manual Postings to Z993/Z994}}. If you do not have this report, please {{SupportContact}} or click [http://www.catalyst-uk-support.com/kb/images/8/89/Z9934Check.zip here] to download and then click [[How do I import a Report Generator template?|Here]] to view help on importing the report. Once you have have this report, run it. Any total you have on this report, add or subtract it from the balance on the balance sheet. |
If the figures are still different, try this. | If the figures are still different, try this. | ||
Revision as of 10:07, 25 September 2013
Contents
Summary
The following article explains reasons why, and checks that can be made, if your Aged Debtors or Creditors Lists do not match your Balance Sheet for Sales and Purchase Control centres accordingly.
More Information
'Z993' and 'Z994' on the Balance Sheet are the control centres for the Purchase and Sales Ledgers. These are fixed codes that cannot be changed. If you run a current Aged Debtor/Creditors List and then compare the total figure to 'Z994/Z993' using Nominal Centre Preview, the two values should agree. If they do not, please try the following checks which will use the Sales Ledger - the Purchase Ledger can be checked using its equivalent options.
Quick Check
With just yourself logged into Platinum on today's date, go to "Sales Ledger" -> "Customer File Maintenance" -> "View Customers".
- Make a note of the value in 'Total Balance'.
Go to "Nominal Ledger" -> "Nominal Centre Preview".
- Enter 'Z994' and press <Enter>.
- Make a note of the 'Current Value'.
- Compare the 'Total Balance' and 'Current Value'. They should be the same.
If the figures are different, look at this first.
Items Posted Into the Future
- Go to "Sales Ledger" -> "Sales Reports" -> "Daybook Summary" and enter in tomorrow's date. There should be no forward postings shown. If there are, add or subtract that total amount from the "Current Value" figure from the Nominal Centre Preview, since it only includes transactions up to the date with which you are logged into Platinum.
If the figures are still different, try this.
Items Journalled to Control
 | Only in exceptional circumstances should any journals be done to 'Z993/Z994', since this will most definitely cause a mismatch between the ledger balances and the balance sheet. End of year audit adjustments should either be posted against the individual creditor or debtor through the appropriate ledger, or to separate nominal codes for provisions. |
- To check for journals to the controls, go to "Sales Ledger" -> "Sales Reports" -> "Accounts Report Generator" and search for a report entitled 'Manual Postings to Z993/Z994'. If you do not have this report, please Contact your Platinum dealer or our support team on 0116 230 1500 or by using our website support contact page or click here to download and then click Here to view help on importing the report. Once you have have this report, run it. Any total you have on this report, add or subtract it from the balance on the balance sheet.
If the figures are still different, try this.
Invoices/Credits Paid Directly to Z993/Z994
- To check for invoices or credits that have been paid off directly to the control accounts, go to " Sales Ledger Sales Reports Accounts Report Generator" and search for a report entitled 'Inv/Cred Paid off to Z993/Z994' If you do not have this report, please Contact your Platinum dealer or our support team on 0116 230 1500 or by using our website support contact page.
- This report will need to be run for both the sales ledger and purchase ledger and for payments to both Z993 and Z994.
- Journal any figures returned to the relevant centre to correct.
These checks will make sure that the current up-to-date figures agree. If you are trying to reconcile the figures at month end, make sure that these extra steps have been carried out.
Month End Checks
- Check that the heading on the Aged Debtors/Creditors list includes the words "as at" and the date of the end of the relevant month. If not, you will have an up-to-date list, not one for the end of the month. Re-run the list with the flag set to exclude transactions beyond the current financial period.
- Check that you have run the Nominal Update for the month in question so that all the transactions in the relevant ledger have made it to the Nominal.
If after performing all of the above, your Aged Debtors/Creditors still do not match the Nominal Centre Preview for Z993/Z994, Contact your Platinum dealer or our support team on 0116 230 1500 or by using our website support contact page mentioning that you have performed the above steps.
