Verifying Open Item Accounts

On a regular monthly basis, you should ensure that the total amount of detail open items in each of your open item general ledger accounts (usually receivables and payables; not your bank accounts) equals the general ledger account balance. For more information about open item accounts, see Maintaining Accounts Overview, Manual Reconciliation, and Automatic Reconciliation.

To verify an account:

1. On the GL Edit & Query screen, select Open in the Status field.
2. In the Account field, specify the general ledger account you want to verify (for example, 1510).

3. Click SEARCH.

   The Search Results grid lists all open items associated with the specified general ledger account, and the total amount for all listed items is shown in the lower-right area of the screen.

   

4. Press F4.

   The GL Account Display screen appears. (For details, see GL Account Display Screen.)

   

   If the last balance amount shown in the left-most column of this screen does not match the total shown on the GL Edit & Query screen, this open item account was not reconciled properly. The closed items for the account are out of balance by the difference of these amounts.

5. Find the items closed in error and open them.
6. Repeat this procedure for each open item general ledger account you want to verify (except bank accounts).