account-reconciliation

Reconciliation Categories

General Ledger vs. Subledger

Verify that each control account in the GL agrees with the sum of its underlying detail ledger.

Accounts typically reconciled this way:

• Trade receivables (GL control vs. AR aging schedule)
• Trade payables (GL control vs. AP aging schedule)
• Property, plant & equipment (GL control vs. asset register)
• Inventory (GL control vs. stock valuation report)
• Prepaid assets (GL control vs. amortization schedule)
• Accrued liabilities (GL control vs. accrual supporting schedules)

Workflow:

1. Extract the GL control account balance at the period cut-off
2. Generate the subledger detail or trial balance as of the identical date
3. Match the two totals — under real-time posting they should be identical
4. Research any gap (manual GL postings, pending interface batches, failed data transfers, reclassifications without subledger mirror)