DealerVu Training It’s All About Balancing

The Concept of Balancing The General Ledger control account total MUST EQUAL The Subledger total –As at the same cut-off (End) date

What Should Be Checked? Unit Inventory Accounts Receivable Accounts Payable Floor Plan Payable

Unit Inventory Compare: GL Trial Balance values at end of month –TO Accounting Reports: Unit Inventory Transactions Report totals per GL account

Accounts Receivable Compare: GL Trial Balance values at end of month –TO Accounting Reports: Accounts Receivable Aging Report totals per GL account

Accounts Payable Compare: GL Trial Balance values at end of month –TO Accounting Reports: Accounts Payable Aging Report totals per GL account

Accounts Payable Aging Summary

It doesn’t balance! A/P - Trade at 11/30/2006 Balance per GL (2,878.71) Balance per AP Aging (Subledger) (3,600.57) Difference

If it does not balance Call DealerVu Support for assistance

Floor Plan Payables Compare: GL Trial Balance values at end of month TO Accounting Reports: Accounts Payable Aging Report totals per GL account AND the Accounting Reports: GL Accounts Payable Subledger Audit Report total per GL account

Floor Plan Payables

GL AP Subledger Audit Report

When to Balance Every Month End Why –Year End balancing is only last month –Errors detected early –Less investigation required –Easier to find difference