UK AR reconciliation

[blacklab]

Hi - im trying to reconcile my cash receipts per the bank, looking at income booked in the month per the PL adding VAT, movement in AR, movement in deferred income - im getting a difference - all my pl invoices have gone through AR, and deferred journals all to tie into the PL, VAT is all correct...so im. not sure what Im missing - any thoughts? thank you!

 

[kirby]

Instead of reconciling a whole month at a time, do a day by day recon. Hopefully the difference will be easier to find with a smaller amount of data.

 

[mustafijurmba]

Hi - im trying to reconcile my cash receipts per the bank, looking at income booked in the month per the PL adding VAT, movement in AR, movement in deferred income - im getting a difference - all my pl invoices have gone through AR, and deferred journals all to tie into the PL, VAT is all correct...so im. not sure what Im missing - any thoughts? thank you!

You could recorded any income as expense or expense as income. I mean do you have any person/company that is both your customer and supplier? kindly checked again. If you need help to solve this problem , i can help you. thanks

 

[Dele Oweki]

Hi - im trying to reconcile my cash receipts per the bank, looking at income booked in the month per the PL adding VAT, movement in AR, movement in deferred income - im getting a difference - all my pl invoices have gone through AR, and deferred journals all to tie into the PL, VAT is all correct...so im. not sure what Im missing - any thoughts? thank you!

Ah I’ve been there....honestly, it’s usually some timing thing messing with the match. Even if AR, VAT, and deferred all look right, sometimes the bank shows money a bit earlier/later than the P&L, or there’s random stuff like refunds, interest, or someone paying without an invoice. What helped me was using Finexer to pull the bank data in real-time, it flagged a couple of things I would’ve totally missed otherwise. Might be worth a try, or even just exporting the bank lines and tagging them manually once.....usually one oddball transaction clears it up.