Reconciling GL Control Accounts

You are here: 54. Advanced General Ledger Training Manual > 54.4. End of Month Procedures > Reconciling GL Control Accounts

Reconciling GL Control Accounts

General Ledger control accounts comprise the following:

Trade Debtors (Accounts Receivable)
Trade Creditors (Accounts Payable)
Stock on Hand
Work in Progress.

To verify your GL control account balances against the sub-ledgers in MGL:

Select REPORTS | GL SUMMARY.

Micronet displays the General Ledger System Summary screen.

Check the balances in the following fields:

	Field	Value
	Balance Per Ext Ledger	This refers to the balance in the sub-ledger – for example, Trade Debtors is the balance of the Customer Aged Trial Balance Report.
	Balance Per GL	This refers to the accumulated YTD balance in the GL control account.
	Variation	This is the variance between the sub-ledger and the General Ledger.

Warning

A GL control account is determined by the Account Position set in the GL Account master file – see "File - GL Accounts - GL Account". Ensure that only those accounts updated by GL integration are set with the control account positions. This affects the results calculated in the GL Summary.