The General Ledger Reconciliation report summarizes all activity for the firm, providing management a view of WIP and AR account balances on one sheet.
Permissions Required for this Report
In the staff profile, staff must be assigned to a security group that is granted View functional rights for the following:
- Security group profile > Functional rights > Reports > Shared Library > Shared Views
- Security group profile > Functional rights > Reports > Firm Library > Custom
- Security group profile > Functional rights > Reports > Firm Library > Standard > Firm
- Security group profile > Functional rights > Reports > Firm Library > Standard > Practice
- Security group profile > Functional rights > Reports > Firm Library > <report name>
Reports in Foundation that are Comparable
In Practice Management, the comparable report is General Ledger Reconciliation (Custom Library). In Practice Advantage, the comparable report is General Ledger.
Report Specifications
The following report options and filters are available to determine the report contents.
| Options and Settings | ||
|---|---|---|
| Option | Setting | Description |
| Include Deleted Clients | Yes\No | Includes or excludes deleted client information. |
| Default Filters | ||
|---|---|---|
| Field Name | Operator | Value |
| Transaction Date | Between | First Day of Current Month, Today |
| Optional Filters | ||
|---|---|---|
| Available Fields | ||
|
Accounting Period Date |
Deletions |
Progress Bills Applied |
|
Adjustments |
Finance Charge |
Region |
|
Billable Expense |
Invoices |
Sales Tax |
|
Billable Time |
Office |
Transaction Date |
|
Billed Amounts |
Payments |
Write Offs |
|
Corrections (AR) |
Posted Date |
Write Ups |
|
Corrections (WIP) |
Progress Billings |
|
| Grouping | ||
|---|---|---|
| Available Fields | ||
| Firm Name | Office | Region |
| Sorting |
|---|
| There are no sorting options for this report. |
Report Fields
The following fields are available for this report. The fields that display and the position of fields are based on the report's settings, grouping, sorting, and filters.
| Report Fields | |
|---|---|
| Field | Description |
|
Work In Progress |
|
|
Beginning Balance WIP |
The unbilled, billable WIP, including on hold and expenses as of the start date of the report. |
|
Billable Time |
The billable time entered during the date range selected. |
|
Billable Expense |
The billable expenses entered during the date range selected. |
|
Deletions |
The amount of deleted billable WIP. |
|
Transfers/Corrections |
The net corrected amount of billable WIP plus the transferred amount of billable WIP. |
|
Billed Amounts |
The total billed amount of WIP on posted invoices for the date range selected. (WIP amount +/- Write Up/Down). |
|
Write Up |
The total write ups for the date range selected. |
|
Write Down |
The total write downs for the date range selected. This also includes WIP that is written off. |
|
Ending Balance of WIP |
The net amount of beginning WIP + time + expense – deletions +/- transfers – billed amounts + write ups – write downs. This number should tie to the WIP/AR Reconciliation Ending Balance for the same filter criteria. |
|
Progress Billings |
|
|
Beginning Balance Progress |
The net of progress billed/applied as of the start date of the report. |
|
Progress Billing |
The total of all progress billed during the date range selected. |
|
Progress Applied |
The total of all progress applied during the date range selected. |
|
Ending Balance of Progress |
The sum of the beginning progress + progress billed - progress applied. |
|
Accounts Receivable |
|
|
Beginning Balance A/R |
The net total of all receivable amounts as of the start date of the report. |
|
Invoices |
The total invoice amount (billed WIP +/- write-up/down) posted during the date range selected. |
|
Sales Tax |
The total sales tax billed and posted during the date range selected. |
|
Finance Charges |
The total finance charges billed and posted during the date range selected. |
|
Payments |
The net total of all payments received and posted during the date range selected, regardless of distribution status. |
|
Adjustments |
The net total of all AR adjustments, including debit memo, credit memo, debit adjustments, credit adjustments, miscellaneous charges, and handling fees. |
|
Corrections |
The net of any AR transactions with an original date prior to the start date of the report and transferred during the date range of the report. |
|
Write Offs |
The total of all AR write offs for the date range of the report. |
|
Ending Balance of A/R |
The net amount of beginning AR + invoices + sales tax + finance charges – payments +/- adjustments – write offs. |
General Ledger Reconciliation Sample Report
