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Reconcile the aged creditors - Check for incorrect allocation dates

Created on  | Last modified on 

Summary

What to do it your aged creditors nominal code balance doesn't reconcile with an aged creditors report.

Description

There are several reasons why the Aged Creditors report doesn't reconcile with the Creditors Control account. One common cause is transaction allocation dates.

The allocation date links the two transactions together. For example, if your purchase invoice is dated after the report date but allocate it to a credit note before the date, the report shows discrepancies.

Download the relevant reports to identify transactions affected by allocation dates.

Resolution

Download the Aged reconciliation reports

  1. Press the download link:
  2. Enter your My Sage Email address and Password then press Sign In.
  3. If required, select your account.
  4. The file downloads automatically to your Downloads folder.

If prompted to save the file, make a note of the file name, then press Save, and save the file to your desktop.

Restore the reports

As the backup only contains reports, this doesn't affect your Sage data.

  1. Back up your data.
  2. Go to File then select Restore.
  3. Select Browse then browse to the location of the backup.
  4. Select the reports backup, additional_reports_backup.001, then press Open.
  5. Press OK then Yes.

Run the aged reconciliation reports

  1. Go to Suppliers then select Reports.
  2. Select AGED RECONCILIATION REPORTS.
  3. Run each report to check for allocation discrepancies:
Report name Description Date range to use Action required
Aged Reconciliation - Allocation Dates - PI Locates purchase invoices dated after the report date with an allocation date on or before the report date. Up to the reconciliation date.

Deduct the allocated amount from the aged balance. Alternatively, if using Standard VAT:

  1. Delete the purchase payment.
  2. Post a purchase payment on account.
  3. Allocate the payment on account to the invoice using the invoice date.

If you have bank reconciled the purchase payment, ensure your bank reconcile the purchase payment on account to avoid differences on the next bank reconciliation:

  1. Select the Bank Reconciled checkbox in the Corrections option.

Find out more in our Correct transactions article.
Aged Reconciliation - Allocation Dates - PP-PC-PA-PD Finds purchase payments, credits, discounts, and payments on account dated after the report date. With an allocation date on or before the report date. Up to the reconciliation date. Add the allocated amount to the aged balance.

If the invoice and the payment are dated after the report date, this doesn't result in a discrepancy. Deduct the transactions from the allocated amount total.
Aged Reconciliation - Future Allocation Dates - PD-PP Finds discount and payment transactions dated on or before the report date, with an allocation date after the report date. Up to the reconciliation date.

Change the allocation date to be the same as the posting date. To do this, you can delete and repost the transaction. Alternatively, you can unallocate the transaction then re-allocate.

If you can't delete and repost or re-allocate the transaction, deduct the allocated amount from the aged balance.

Find out more in our Correct transactions article.
Aged Reconciliation - Link Removed - PI Finds any PI transactions with the Link Removed in the Allocation Details. 01/01/1980 - 31/12/2099 Follow the steps in our Link Removed transactions and Aged Balance differences article.
Aged Reconciliation - Link Removed - PP-PC-PA-PD Locates any PP/PC/PA/PD transactions with the Link Removed in the Allocation Details. 01/01/1980 - 31/12/2099 Follow the steps in our Link Removed transactions and Aged Balance differences article.
Aged Reconciliation - Outstanding PD Finds any outstanding or part-paid PD transactions. 01/01/1980 - 31/12/2099
  1. Go to File then select Maintenance.
  2. SelectCheck Data then select Recovery Tools.
  3. When prompted, take a backup.
  4. Select Reset Transaction Status.
  5. Press OK then Close.
Aged Reconciliation - Upgraded - PI Finds any purchase invoice transactions with Upgraded in the Allocation Details. 01/01/1980 - 31/12/2099 You can't correct this. This clears when you run the Clear Audit Trail routine to a date after the upgrade date.
Aged Reconciliation - Upgraded - PP-PC-PA-PD Finds any payment, credit, discount, or payment on account transactions with Upgraded in the Allocation Details. 01/01/1980 - 31/12/2099 You can't correct this. This clears when you run the Clear Audit Trail routine to a date after the upgrade date.

 

NOTE:

If reports come back with no information, this is feedback from the report that there’s no issue to report.

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