Thanks, very through. I do nightly backups with transaction logs every 15 minutes.
I think what I may do is just select the 'print report' option and not actually do the reconcile, and meet with my accounting user to see if they find these steps useful.
The consultant made it sound like this is something we should be doing monthly for both sales and purchasing. I'm still a little confused why? We are fairly small (approximately 20 employees, maybe 50 transactions a day).
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by: sendowPosted on 2009-11-03 at 16:13:44ID: 25735306
Hi,
I would agree that it is probably a good idea to run the RM reconcile process regularly, or at least occasionally, to detect any discrepancies in your receivables subledger. I'm guessing you probably wouldn't notice any issues unless you were trying to reconcile a few specific customers and noticed a discrepancy, like the customer inquiry window said they owned $53,000, but the detailed AR aging showed $51,500.
In short, the process appears to review the detailed transaction information and verify that all of the customer summary information is accurate and correct. For instance, does the summary aging bucket for the customer's current balance match the outstanding current transactions for that customer? And is their total account balance correct?
My opinion is that although the database is updated, because it is an update of summary information based on the detailed information, it is not a particularly dangerous update that should make you nervous. As long as you have good, reliable nightly full database backups of your company databases and Dynamics database (definitely verify this!), I wouldn't worry, as you can always restore to a test database if necessary.
The GP training manual, much like the online GP help, describes the process as:
"The reconciling process is used if a system problem such as a power interruption occurs and you need to verify that your Receivables Management data is accurate. The reconcile process is also useful if you discover inconsistencies in
reports."
Both sources stress that you should backup your GP databases before running the reconcile routine.
As for the options, here are descriptions of what each does:
Current Customer Information - Verifies the following information:
" Aging periods for each customer with the amounts recorded for the customer's transactions
" The summary information concerning outstanding amounts and unpaid finance charges
" Current balances
If the amounts do not match, the system sets the balances as calculated. The
Reconcile Customer Balances report displays only the customers whose balances
were changed during process.
Outstanding Document Amounts - Verifies the transaction balances with the amounts applied to them for each customer in the range. If the calculated transaction balance does not equal the amount on the transaction, the system sets the balances as calculated. Each document that is changed is printed on the Outstanding Documents Reconciliation report.
Batch Information - For each batch, the system verifies:
" The batch each transaction is assigned to
" The number of transactions in the batch
" The batch total
If any of the system calculations do not match the original amounts, the batches are reconciled. Any missing batches are added. Batches that are changed or added are printed on the Batch Reconciliation report.
Fiscal Year - Verifies the summary information for the selected fiscal year with the detail transaction information, for customers who are keeping fiscal history and who are included in the range. If the amounts do not match, the period summary amounts are adjusted based on the posted detail transactions.
Calendar Year - Verifies the summary information for the selected calendar year with the detail transaction information, for customers who are keeping calendar history and are included in the range. If the amounts do not match, the period summary amounts are adjusted based on the posted detail transactions.
Reconcile Date - This is the date used to determine the age of each document. If you enter a date that is 30 days before or after the user date, a message alerts you that a reconcile date is not normally more than 30 days from the user date. Either continue with the selected date or enter a new date.
Account Type - Select whether to reconcile:
" Open item accounts
" Balance forward accounts
" All accounts
When reconciling open item accounts, the system checks that the balances for each aging period are correct. If the balances are incorrect, the aging periods are recalculated.
Statement Cycles - All statement cycles are highlighted by default. You may change the default to reconcile only those customer records assigned a particular statement cycle.
Let me know if you have any additional questions.
Thanks,
Steve Endow
Dynamics GP Certified Trainer
Dynamics GP Certified Professional