Download a tie-out
A tie-out is an Excel workbook that ties a GP subledger to its GL control accounts as of a date, with the detail behind both sides. There are five: AP, AR, Fixed Assets, bank reconciliation and the trial balance (summary vs detail). Anyone can download them.
Where to get one
- Reconciliations page: under Subledger tie-outs, as of the period end you picked. Download all tie-outs puts every one in a single workbook.
- Close checklist: tie-out tasks have their own button, and Download all tie-outs is at the top, as of the checklist's period end (or today, if the period hasn't ended yet).
- Issue pages for the tie checks (AP and AR aging, fixed assets, bank items and reconciliations, trial balance): pick the As of date, last month end to start with, and choose the download button.
In the all-in-one workbook, modules the company doesn't use are left out. A module that can't be produced gets a sheet saying why, and the rest still come.
The as-of date
A tie-out can be as of any date up to today; a future date is refused. Both sides are stated at the end of that day:
- AP and AR are rebuilt from GP's open and history records by GL posting date, the way GP's Historical Aged Trial Balance does it. A September tie-out run in October still shows September: payments, invoices and applications posted after the date don't change it.
- The AP and AR documents sheets list each document's currency. Their amounts are in your company's currency, as GP's aging and the GL hold them; the Multicurrency checks on the Health page compare them with each document's own currency.
- The GL is the year's beginning balance plus every posted entry dated on or before the date. For a date in a closed year, it's GP's GL history for that year.
- Fixed Assets is rebuilt from GP's Fixed Assets history by GL posting date; see Fixed Assets and trial balance tie-outs.
- Bank: see The bank reconciliation tie-out.
As of today, if GP's application history doesn't add up to what GP shows open, AP and AR use GP's open balances (what GP's aging shows) and list the documents involved as reconciling items. As of an earlier date the history has to add up, or the tie-out isn't produced; see When a tie-out isn't produced.
What's in the workbook
- Summary: the company, the as-of date, who prepared it and when, the versions used, then the subledger total, the GL control accounts, the difference, unposted GL entries, the difference after them, each kind of reconciling item, and what's still unexplained.
- Detail sheets: the open documents behind the subledger, the GL control accounts, the GL detail, the unposted GL, and the reconciling items one by one.
The summary uses live formulas over the detail sheets, so your auditor can trace every number. Before Ledger Doctor hands you the file, it recalculates every formula and compares it to the database to the fraction of a cent. The file is saved with the calculated values too, so tools other than Excel show them.
The control accounts come from your GP setup: Posting Accounts Setup plus every vendor, customer and class account. There's nothing to map.
When a difference is left: book an adjusting entry
Work through what the issue page explains first: the reconciling items, unposted batches and entries made straight to control accounts. If AP, AR or inventory still doesn't tie and you know where the difference belongs, an approver can choose Build the adjusting entry on the issue's page (AP aging, AR aging or inventory doesn't tie to the GL).
- Ledger Doctor adjusts the control account (for inventory, each inventory account) by what's still unexplained once unposted GL is counted, to the cent, against the offset account you pick, with the reason you give.
- It's an unposted journal entry in batch LD-TIE-AP, LD-TIE-AR or LD-TIE-IV with the year and month, built through GP's eConnect procedures. Review it in GP (Transactions > Financial > Batches) and post it there. Ledger Doctor never posts.
- Until it's posted or deleted, the difference counts as unposted GL, so it can't be booked twice. Its reference starts "Ledger Doctor tie-out", and the check for manual entries to control accounts leaves it out.