Translations:Monthly closing reconciliation/99/en

In case of discrepancy:

• Print out the list Reconciliation to GL in Accounting | Reports, Purchase ledger tab to see what day the discrepancy occurred.
• Print the list again and select only on the day that the discrepancy occurred, untick the box “Only Summary”.
• Check the bookings in the account specification in Accounting | Reports, General ledger tab and check if there are any bookings that lack assignment code in the Type column.
• Finally check all invoices in the purchase ledger and compare with the invoice amount in the bookkeeping.

Project accounting

Pre-invoice

Reconciliation

• Print out WIP list Accounting period per reconciliation date in Projects | Reports. Enter all project types and tick the box Totals only. Compare WIP pre-invoiced with the account balance in the bookkeeping. Remember to summarize all subaccounts, i.e. 242001, 242002 etc.

In case of discrepancy:

• Check the bookings on the account for pre-invoice in the Account specification in Accounting | Reports, General ledger tab. There might be manual bookings during the period.

WIP account purchases

Purchases in Marathon can either be expensed directly when the invoice is registered or be posted on a WIP account and expensed when invoicing the client. To avoid discrepancy between the WIP account and the WIP in project accounting, no manual bookings should be registered on the WIP account, and no purchases should be registered directly in the project accounting. Reconciliation:

• Make sure that all purchases are updated for the period in Projects | Backoffice | Transactions, Update WIP tab.
• Print WIP list accounting period in Projects | Reports per reconciliation date. Compare the total amount for purchases purchase price with the balance on the WIP account in Accounting | Queries, Accounts tab. Alternatively, print an account statement in Accounting | Reports, General ledger tab.

In case of discrepancy

• Check that all purchase codes have expenses accounts in Projects | Backoffice | Base registers.
• Check the vouchers on the WIP account in Accounting | Queries or in the account specification in Accounting | Reports, General ledger tab. There might be manual bookings made during the period.
• Check that Closing balance for the previous year agrees with current year’s Opening balance in the bookkeeping.
• If an invoice is reversed after being transferred ti WIP account, the expense must be re-posted manually.

Invoiced

• Print out Reconciliation PRO | MED for the period in Accounting | Reports, General ledger tab. If there is a discrepancy, open the row and check the invoiced with discrepancy. The reason for the discrepancy is almost always that an invoice has been manually corrected in Vouchers.
• You can also print the report Printout invoice list in Projects | Reports and compare with the revenue accounts in the bookkeeping that are used in the invoicing. You can see the accounts on the cost codes in Projects | Backoffice | Base registers. Remember to reconcile all revenue accounts with VAR account suffixes 01 (domestic VAT), 02 (domestic VAT-exempt), 03 (outside EU), and 04 (within EU).

In case of discrepancy

• Check possible manual bookings on the revenue accounts on all voucher types, except for client invoice.