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Correct an Out of Balance GL
An "Out of Balance GL" can be a difficult
problem to correct. This bulletin will provide general
assistance in the required procedure. Please note that
some of the procedures used will require 'SUPERVISOR'
access.
An option called GL Integrity is
available in the Utility menu to verify
that all integration GL accounts are balanced. This SED
will display the following fields for each verified GL
account:
 | GL Account: The first account listed in this SED
is '000000', and this account does NOT actually
exist. This account represents that actual total
of all GL account balances. If the GL is in
balance then this entry would have a balance of
zero (0.00). Other accounts that are verified
are:
Inventory GL Accounts
Accounts Receivable GL Account
Accounts Payable GL Account
Current Earnings GL Account |
| Account Name: This is the name assigned to the GL
account. For account '000000' (overall GL
balance) this name is set to "GL
Balance". |
| Balance: This is the current balance of this
account. |
| Actual: This is the balance that the data that
affects this account has. For example the
'Actual' balance for the 'Accounts Receivable GL'
account would be the total of all outstanding
receivable documents. |
| Difference: This is the difference between the
'Balance' amount and the 'Actual' amount. If this
field is zero (0.00) then this account is in
balance. |
If the 'GL Integrity' test fails, complete the
following steps as required:
| Use the Utility | Rebuild
GL option to rebuild the GL account balances.
This option will set all GL balances to the
values reflected by the current transaction
file(s). Please see related Shop Trac Tech Tip Rebuild GL
bulletin for information on this option. |
| If the Accounts Receivable GL is out of balance
verify that all documents are posted. To do this
use the Transaction | Receivable
| Posting option for ALL
open periods. |
| If the Accounts Payable GL is out of balance
verify that all documents are posted. To do this
use the Transaction | Payable
| Posting option for ALL
open periods. |
Any "out of balance" accounts should be
corrected in the order shown below:
| GL Balance (Account 000000): If the actual 'GL
Balance" is out at this point, then it must
be because of invalid opening balances in the GL
account file. A balance sheet dated the first
period of the current year should verify this.
Compare the values on this balance sheet to the
closing balances of the previous year. To correct
this problem, adjust the GL account "Balance
Forward" amount to the correct values.
Please note that the balance forward for any
'Inventory Asset' accounts MUST
be equal to the inventory assigned to this
account at that time. The balance forward amount
of the 'Accounts Receivable' account MUST
equal the value of outstanding receivables at
that time. The balance forward amount of the
'Accounts Payable' account MUST
be equal to the value of outstanding payables at
that time. The opening GL balances can be
corrected using the 'Balance' option on the 'Edit
GL Account' SED. |
| Inventory GL Accounts where 'Difference' amount
is positive: Add a new part number that uses the
affected GL account as it's 'Inventory GL'.
Before saving this new record, select the
'Unprotect' option that is out the right side of
the 'Edit Menu' on the 'Inventory Add/Edit SED'.
Set the 'Balance on Hand' field to 1, and the
'Total Cost' field to the amount of the
'Difference' field from the 'GL Integrity
SED". The GL integrity for this account
should now be OK. Use the Transaction
| Inventory | Adjustment
option to reduce the balance of this new part
number by 1. You may now delete this added part
number. |
| Inventory GL Account where 'Difference' amount is
negative: Add a new part number that uses the
affected GL account as it's 'Inventory GL'. Use
the Transaction | Inventory
| Adjustment option to increase
the balance of this new part number by 1, and the
cost by the amount of the 'Difference' field,
except as a positive number. Now load this number
into the 'Inventory Add/Edit SED, and select the
'Unprotect' option that is out the right side of
the 'Edit Menu'. Set both the 'Balance on Hand'
and the 'Total Cost' fields to 0. The GL
integrity for this account should now be OK. You
may now delete this added part number. |
| Accounts Receivable GL: Create an new customer.
Use the hidden Adjust option
found on the 'Edit Menu' of the Customer Add/Edit
SED to add a document to this customers account.
Use the same amount as the 'Difference Amount' on
the GL Integrity SED, although always as a
positive number. If the 'Difference Amount' is
positive, this amount would be a 'Debit', if it
is negative this amount would be a 'Credit'. The
'GL Integrity' test for this account should now
be OK. Use the Transaction | Receivable
| Ledger to post a corresponding
Credit/Debit to clear the previous entry. One
side of the transaction would be assigned to the
Accounts Receivable GL, while the other side
would be assigned to the 'GL Adjustment' GL
account. This will reverse the manual entry made
to the new customer account. Once the documents
are cleared using the Transaction
| Receivable | Payments
option this new customer account can be deleted. |
| Accounts Payable GL: Create an new vendor. Use
the hidden Adjust option found
on the 'Edit Menu' of the Vendor Add/Edit SED to
add a document to this vendors account. Use the
same amount as the 'Difference Amount' on the GL
Integrity SED, although always as a positive
number. If the 'Difference Amount' is positive,
this amount would be a 'Debit', if it is negative
this amount would be a 'Credit'. The 'GL
Integrity' test for this account should now be
OK. Use the Transaction | Payable
| Ledger to post a corresponding
Credit/Debit to clear the previous entry. One
side of the transaction would be assigned to the
Accounts Payable GL, while the other side would
be assigned to the 'GL Adjustment' GL account.
This will reverse the manual entry made to the
new vendor account. Once the documents are
cleared using the Transaction | Payable
| Payments option this new
vendor account can be deleted. |
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Web Site News!
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This box will always give you the latest news
about changes to this site.
The
Shop Trac FAQ has been updated!
New
Shop Trac
Tech Tips, including the changes for the Canadian
July 2010 HST rate changes.
New 2010 price lists have been posted.
The latest
Shop Trac Update
is dated 09/15/2010, and an order form can be
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The Update Installation process has changed
slightly, and the new instructions are available
here.
The latest (and final)
IMS/ACTR/ACTP Update is dated
11/30/2003. |
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