Tech Note: Reconciling the PO Line Items for AP Matching Report with the Accrued Received Goods Liability GL Account Balance

As mentioned in the companion Tech Note adjacent to this one, AccountMate provides users the option to accrue liability for purchase receipts for which no invoices have been received so that your inventory quantities match the Inventory GL Account ID balance. Purchase receipts accrual affects the Accounts Payable balance in General Ledger (GL); thus, it is important to establish the accuracy of the Accrued Received Goods Liability GL Account ID balance.

To achieve this you need to reconcile the PO Line Items for AP Matching report and the accrued purchase receipts transactions that comprise the Accrued Received Goods Liability GL Account ID balance.

Article #1316: Reconciling the PO Line Items for AP Matching Report with the Accrued Received Goods Liability GL Account Balance, discusses the factors that should be considered in the reconciliation and the formula to be used.