I created my own Branch-Specific Income Statements and they don't total to match my Consolidated Income Statement
This is most likely due to the fact that one of your branch G/L Accounts is either not linked to a G/L Group, is linked to the incorrect G/L Group, or a G/L Group was not included in one of your Income Statements. First, look at each Income Statement report in the Financial Reports screen to be sure that they contain the same groups for each branch. Once you have verified that they contain the same branch-specific groups, run a report to verify that each G/L Account is linked a G/L Group (use the Report button in the G/L Account screen). Identify the account that is not linked correctly, assign it to a group, and re-run your reports.
My Balance Sheet is blank
You have not closed your General Ledger Year. Your Balance Sheet will not display account information until you close the year and the balances are carried over. If you are waiting for your accountant to notify you of the necessary journal entries, you can close the year now and then re-open it to post the journal entries at a later time.
My G/L is out of balance in the G/L Inquiry screen
If the G/L Totals in your G/L Inquiry screen are out of balance, first try re-indexing the General Ledger. If this does not bring the ledger into balance, the issue may require a Professional Services consultation to resolve. Contact Customer Care for assistance (phone: 203-364-1200 email: support@ddisys.com).
My A/P (A/R) General Ledger Balance doesn't match my A/P (A/R) Aging Report
If your opening balances did not match originally, the reports will never match from that point on. This may require you to make several journal entries in order to reconcile the accounts.
It is also possible that a Journal Entry was incorrectly posted. There should not be any Journal Entries in the Accounts Payable or Accounts Receivable accounts. Use the G/L Inquiry screen to identify and correct the erroneous posting.
Also keep in mind that the Aging reports are date-driven while the General Ledger is period driven. Transactions from different months may be posted in different accounting periods, resulting in a discrepancy. For A/P discrepancies, run the Purchase Journal (Accounting > Accounts Payable > Purchase Journal) to identify and correct the discrepancy.
My Inventory G/L doesn't match my Inventory Value Report
If your opening balances did not match originally, the reports will never match from that point on. This may require you to make several journal entries in order to reconcile the accounts.
The formula for reconciling your Inventory G/L to your IVR is:
G/L Inventory + Uninvoiced POs – Uninvoiced Drop Ship Pos = IVR – Negative Inventory
When you run your IVR, verify that:
➔you are using the same cost column that you use as your G/L cost. You can check to see the cost that you are using in the Company Master, under the Pricing/Costing tab. Look for the "Sales Invoice G/L Cost" field. If you are using average cost, you should be using the C2 cost field when you run your IVR. If you are using the Salesman cost, you should be using C4, C6, or C7 (whichever cost is designated as the Salesman cost) in your IVR.
➔there are no values in the Drop Ship or Returned Goods warehouses.
➔there are no journal entries posted to the Inventory G/L Account.
A discrepancy may also exist due to:
➔manual changes made to the C2 Average Cost.
➔adjusting PO Stock Receipts costs retroactively, where sales or other inventory affecting transactions may have already occurred. Minimize the potential for this situation by requiring pricing confirmation on your Purchase Orders.
➔the selling of SP items. These items will post to the Non-inventory G/L Account set in your G/L Control Table.
➔changing the status of an item to “Consumable” with a quantity On Hand not equal to zero.
➔voided sales invoices (if you are updating your GL with the Average cost). Sales invoices should only be voided one or two days after the invoice is posted, to minimize that chance that the average cost will have changed. Sales invoices older than 2 days should not be voided and should be processed as a return.
➔selling items before the A/P Invoice is able to update the C2 Average Cost. Run the Average Cost Variance Report to identify items that were sold at an Average Cost that was changed by a pending A/P Invoice.
➔a balance in the Non-inventory G/L Account set in your G/L Control Table. Transactions will post to this account when they are set to affect the default Inventory account without a corresponding increase to the actual Inventory Value.
For example, when a consumable item is sold, it doesn’t actually decrease the value of your inventory so it will post to this account. When an A/P Invoice is entered and posted to the inventory account, but not linked to a Stock Receipt it will also post to this account.
Transactions posted to this account should be reviewed and moved to the appropriate account using a Journal Entry.
On my Balance Sheet, Assets does not equal Total Liabilities plus Total Equity
One of your Balance Sheet G/L Accounts (any account with a number less than the P & L Break Account), may not be linked to a G/L Group. When you print the Balance Sheet, you should receive a warning message notifying you which account is not linked. To link the account, open the account in the G/L Account screen, click the Edit button, enter the appropriate G/L Group, then click the Save button.
The Net Income on my Balance Sheet doesn't match the P&L on my Trial Balance
If the Trial Balance and Income Statement match, but the Balance Sheet does not, check your Income Summary G/L Group to be sure that it includes all of the necessary accounts. It should include every Income Statement account (every account with a number higher than the P & L Break Account). If the group is blank, a Customer Care representative can run a program to add all of the necessary accounts to the group.
The Net Income on my Income Statement doesn't match the P&L on my Trial Balance
If the Income Statement does not match the Trial Balance, check to verify that all of your Income Statement G/L Accounts (every account with a number higher than the P & L Break Account) are included in the Income Statement report.
