• Before you close out the month...
• Reconciling the accounts receivable
• Steps to ensure that the amounts agree
• Reconciling the WIP
• Steps to ensure that the amounts agree
• Reconciling an unapplied cash receipt

Steps to ensure that the receivables amounts agree

For further verification or if the receivables amounts don't agree, you can perform a comparison of the supporting reports:

1. The sum of the "WIP billings during period (including taxes) and "Miscellaneous billings during period" amounts of the Receivables reconciliation report should agree with the Account Receivable amount in the "Invoice Journal - summary" document.

Note: To verify the "WIP billings during period (including taxes)" only, use the filter LTRIM([Receivables].[Source]) is equal to 'W' in the filter line of the "Invoice Journal - detail" documents.

Building Filter Calulcations

1. Click to access the Equation Editor.
2. Verify the "Cash receipts during period" amount of the Receivables reconciliation report with the Accounts Receivables amount of the "Cash Receipts Journal - summary" document and ensure the proof total equals to zero.
3. Verify the "Credit notes during period" amount of the Receivables reconciliation report with the Accounts Receivables amount of the "Credit Notes Journal - summary" document and ensure the proof total equals to zero.
4. The "Balance, end of period" amount should agree with the ending balance of the "Trial balance" document.

Notes

• Refer to this topic in the Time User Guide for full illustrations of the reports and balances to reconcile.

Related Topics

• The Accounts Receivable Reconciliation Report.
• Reconciling unapplied cash receipts
• Running accounts receivable reports
• Running the Trial Balance Reports.
• What happens if it is time to move to the next period, but I have not entered all the information for the current period?