The AR Reconciliation report lets you obtain a quick update on the status of your receivables by comparing transactional data against accounting data. Use this report during the internal reconciliation process to see if the balances on the various registers match those on the journal reports. You can also see which items affect aging, and which items affect GL account balances. This helps you to more easily reconcile your accounts receivable activities, before you post to Oracle General Ledger.
Run the AR Reconciliation report as the first step in the reconciliation process. See: Reconciling Receivables. This report displays transactional data in an Activity column, and accounting data in a Journal column. If discrepancies exist between the two columns, then contact Oracle Support Services for assistance.
The AR Reconciliation report displays summarized information consistent with detailed registers and journal reports. To view the underlying detail, run these reports:
Aging 7-Buckets - By Account report or Aging 4-Buckets report (to view the beginning and ending balances)
Transaction Register and Sales Journal
Adjustment Register and Adjustment Journal
Applied Receipts Register and Applied Receipts Journal
Unapplied and Unresolved Receipts Register and Unapplied Receipts Journal
On-Account Credit Memo Gain/Loss Journal
Invoice Exception Report
Attention: This report tells you only that your transactional and accounting data match. Use the Potential Reconciling Items report to view suggested items that might have potential accounting setup errors. You can automatically submit the Potential Reconciling Items report when you run the AR Reconciliation report.
Potential Reconciling Items: Indicate if you want to submit the Potential Reconciling Items report when you run the AR Reconciliation report. The default is No.