Dynamics GP Reconcile to GL - Save Time at Month-End in Accounts Payable

Did you know Microsoft Dynamics GP includes a powerful feature that can significantly reduce the time and effort required to reconcile your Accounts Payable subledger with your General Ledger? In this post we will tell you about Great Plains' Reconcile to GL tool, how to use it and the how it helps AP teams reduce month-end stress.

Save Hours with The Reconcile to GL Tool

The Reconcile to GL tool is one of Dynamics GP's most valuable yet underutilized features. This practical tool automatically compares your AP records with GL entries to identify discrepancies quickly and efficiently.

Instead of manually comparing transaction lists or creating complex spreadsheets, the Reconcile to GL tool performs this task automatically, allowing your team to focus on addressing issues rather than finding them.

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How the Tool Works

When you run the Reconcile to GL tool for Accounts Payable, it generates a comprehensive Excel report that organizes your transactions into three clear categories:

1. Matched Transactions - These transactions align perfectly between systems. The payables records match GL entries, voucher numbers correspond to originating control numbers, and posting dates are identical.
2. Potentially Matched Transactions - These transactions have most data points aligned but contain minor differences. These often involve discount amounts or other small variances that require review.
3. Unmatched Transactions - These transactions either exist in one system but not the other or have significant discrepancies that need investigation and correction.

This organized approach allows you to immediately focus on transactions that need attention, saving valuable time during the reconciliation process.

5 Simple Steps

1. Navigate to Financial > Routines > Financial > Reconcile to GL
2. Select Payables Management as your module
3. Enter your AP account number
4. Specify your desired date range for reconciliation
5. Choose where you want to save the output Excel file

Within moments, you'll have a detailed reconciliation report ready for review.

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It works better in newer versions of GP

If you're using Dynamics GP version 16 or 18+, you'll benefit from expanded functionality. Microsoft has enhanced this tool to work across multiple modules, including Payables, Receivables, Inventory, and Cash, making it even more valuable for comprehensive financial reconciliation.

Benefits for Your AP Team

By incorporating the Reconcile to GL tool into your month-end processes, your AP team can:

• Reduce reconciliation time significantly
• Identify discrepancies with greater accuracy
• Focus efforts on transactions that require attention
• Streamline the month-end closing process
• Improve the overall accuracy of financial reporting

Learn more about: Dynamics GP End of Life

Conclusion

Month-end reconciliation is a necessary but time-consuming process for accounting teams. The good news is that the Reconcile to GL tool represents an opportunity to improve an essential accounting process using software you already own. By taking advantage of this feature, you can help your team work more efficiently and effectively.