How to reconcile ap to gl in oracle r12 : r12 ap to gl reconciliation in oracle apps
In
this post , We will be discuss about the process to reconcile AP to gl in
oracle apps r12. AP to GL reconciliation in oracle mean we want to know our actual creditors, or we can say AP to GL
reconciliation in oracle to reconcile the AP liability accounts with GL. AP liability
accounts help us to determines the actual liability amount which we have to pay
to the suppliers. It also helps us to determines the actual liability of the
organization from the market. For any organization, this information is very critical,
and it helps them to build the strategies based on these figures.
The need of
AP to GL reconciliation in oracle apps r12 to ensure the right figures/amount/liability
which we must pay to our suppliers or market. The process of AP to GL reconciliation
in oracle apps, gives us the accurate liability amount and minimizes the chances
of any miscalculation in the final GL liability account balances. We do generate
the Organization balance sheets from GL and we take the balances of AP liability
accounts from the GL itself so that's why ap to gl reconciliation in Oracle apps
plays an very important role to do the auditing in the final AP liability account
balances.
Steps to Perform the AP to GL reconciliation in Oracle Apps
1. We need to find out the Supplier
Outstanding As on date in AP.
2. In GL, we need to take the Balance
from Liability GL accounts.
Reports need to be run for AP to GL reconciliation in oracle apps
1. For AP, we need to run the AP trial
Balance report, this reports shows the Supplier Liability as on date. We cannot
run this report from the back date. This report always shows the Supplier outstanding
as on date. In the AP trial balance report, All the AP invoices which are accounted
and posted to GL and still not paid comes as an outstanding balance for the
suppliers.
2. For GL , we need to run the GL account
analysis report for Liability Natural for the period.
IF both the AP trial Balance report matches with the GL account analysis report balance,
then it means our AP to GL reconciliation in oracle apps completed successfully
If we found
any mismatch in the AP trail and the GL account Analysis report, then it means
there is an change of Manual entry or some of the Subledger journals still unposted
in GL.
To find the
Manual Entry for AP liability accounts, we need to run the GL account analysis
report with source ‘Manual’ for AP liability accounts.
This above process and the steps helps to find out the
actual creditors Amount in the AP to GL reconciliation in oracle apps r12.
How to reconcile ap to gl in oracle r12 : r12 ap to gl reconciliation in oracle apps
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