Fastbase

If there are any variances related to the General Ledger AP Control Account, the following need to be investigated:

1.
Compare the AP Control Account Balance and Supplier Aged Trial Balance for the current month and previous months. Look for any variations.

By doing this, the month where the variance originated can be identified.

2.
Look for any manual journals that have been coded directly to the AP GL Control Account.

This is a common mistake that will result in a variance. Due to this, many areas of Fastbase have been updated to prevent manual postings being directly coded to the Control Account.

3.
Compare the totals of the different transactions (ie, Invoice GLs, Credit GLs, Payments, etc,) in the Supplier Audit Trail to the figures under the MTD figure in GL Account Enquiry for the AP Control Account.

NOTE: In GL Account Enquiry for the AP Control Account, click on the relevant period being compared. In the next screen click on the line GL-UPDATE Journal. Look at the figures for Invoice GLs, Credit GLs, Payments, etc and compare them to the corresponding figures in the audit trail report.

All figures compared should balance. Figures that do not balance need to be investigated by going into the batches for each invidual transaction type.

Check these figures for the month in question and prior months. Look for any variations.

This helps in narrowing down the cause of the variance.

In most cases, General Ledger Journal will have to be created to rectify the variance, if any.