Why do my Debtors/Creditors not Agree to my Balance Sheet?
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Summary
The following article sets out to explain reasons why, and checks that can be made, if, at month end your Aged Debtors or Creditors 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 ledger. If you run an Aged Debt/Creditors List and then compare that figure to 'Z993/Z994' via Nominal Centre Preview, the two values should agree. If not, the following article will give you pointers to check.
The following checks should be done to see why the ledger balances might not agree to the balance sheet Control Accounts. Checking the Sales Ledger will be used in the following example.
With just yourself in Platinum go to "Sales Ledger" -> "Customer File Maintenance" -> "View Customers". The value in the "Total Balance" should equal the figure shown in Nominal Centre Preview for 'Z994'.
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 "Total Balance" figure obtained in the previous step.
 | Under no circumstances should any manual postings be done to 'Z994', since this will most definitely cause a mismatch between aged debtors and the balance sheet. |
- To check for manual postings, 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. Once you have found/have this report, run it. Any total you have on this report, add or subtract it from the balance on the balance sheet.
- Re-run the nominal ledger update from the Sales Ledger and re-check your debtors against 'Z994' from "Nominal Centre Preview".
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.
