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How to Reconcile Accounts Payable to Accounts Payable?

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Summary

Steps on Reconciling Accounts Payable to Payable

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Follow these steps to determine if your Accounts Payable transaction file is in balance with your Accounts Payable master file:

  1. Print the open invoices report:
    1. In Accounts Payable, from the Reports menu, select Invoice Registers, Open Invoices.
    2. Select the AP Master and then click OK.
    3. Leave the Payment date cut off box blank, and then click Print Preview (or Start).
    4. Make note of the balance and the open retainage report totals.
  2. Print the Open invoices with cut-off date report:
    1. From the Reports menu, select Invoice Registers, Open Invoices w/Cut-off Date.
    2. Enter 12/31/9999 in the Cut-off date box and then click Print Preview (or Start).
    3. Make note of the balance and the open retainage report totals.
  3. Compare the balance and the open retainage report totals on each report to determine if there is a difference.
  4. If the difference is zero, the master file totals and the transaction file totals are in balance.
  5. If the difference is not zero, print out both reports and compare. This will tell you which invoices to verify.

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