General Ledger Reconciliation [R0403]

The General Ledger Reconciliation report [R0403] provides a quick means to verify that the system is in balance by comparing General Ledger account balances to the total of the dollar amounts for each lease. This report should be run weekly.

The report may be accessed through the Audit Control report menu [R04] and may be selected interactively for:

All accounting units (portfolio, company, region, office)
A portfolio
A company
A region
An office

The report may be automatically generated for each portfolio at the end of the month through the End of Period update [U0401]. Use the End of Period MODULES AND REPORTS screen under the End of Period Customizations option of the Portfolio update [U0212] to specify whether the report is created.

General Ledger Reconciliation Selection

ALL
Enter ‘X’ to report on all accounting units (portfolio, company, region, and offices). Leave blank to report on a specific portfolio, company, region and/or office.
PORT
Enter the number of the portfolio upon which to report. Leave blank if reporting across portfolios.
COMP
Enter the number of the company upon which to report. Leave blank if reporting across companies.
REGN
Enter the number of the region upon which to report. Leave blank if reporting across regions.
OFFIC
Enter the number of the office upon which to report. Leave blank if reporting across offices.

General Ledger Reconciliation Report

The General Ledger Reconciliation report [R0403] reports at the accounting unit (portfolio, company, region, and office) level and provides the following information:

GENERAL LEDGER ACCOUNT NUMBER
The number assigned to the General Ledger account is displayed.
GENERAL LEDGER ACCOUNT NAME
The name of the General Ledger account is displayed.
GENERAL LEDGER BALANCES
The account balance in each of the General Ledger accounts is displayed.
DETAIL RECORD TOTALS
The associated dollar amount on each lease record is summed and displayed. For accounts such as Inventory or Account Payable, the dollar amount on each asset record is summed and displayed.
DIFFERENCE
The difference between the General Ledger account Balances and the Detail Record Totals is displayed. This field should always be zero (0.00). If not, this DIFFERENCE between the GENERAL LEDGER ACCOUNT and the DETAIL RECORD TOTALS should be reconciled immediately.
TOTALS
Region, company, portfolio, and grand totals for differences are shown for all accounting units. If one or more offices in a region have different names and/or numbers for the same General Ledger account, the MSI default name and/or number for that account is displayed for the region totals. The same is true for company totals, if region account names and/or numbers are different, and for portfolio totals, if account names and/or numbers vary between companies. An asterisk (*) next to the name or number signifies that the default name or number is displayed. The default G/L account names and numbers are provided by MSI. Refer to the Office G/L Change update [U0716] for the account names and numbers used by each office and the corresponding MSI default names and numbers.

Additional Information

The following are the General Ledger accounts which may appear on this report:

Contract Receivable
Unguaranteed Residual - precomputed
Lease Income Receivable
Unearned Income
Unearned ITC
Vendor Participation Unearned
Investor Participation Unearned
Vendor Receivable
Security Deposit Payable
Principal Outstanding
Residual - Simple
Principal Receivable
Leased Equipment
Operating Lease Income Receivable
Deferred ITC
Accumulated Depreciation
Unamortized IDC
IDC1 - Unamortized Insurance Premium
IDC2 - Unamortized Notary Fee
IDC3 - Unamortized Dealer (Vendor) Subsidy
IDC4 - Unamortized Opening Commission
Unbilled Operating Lease Income
Unbilled Operating Lease Receivable
Deferred Operating Lease Revenue
Inventory
Accounts Payable
Deferred Extension Income
Deferred Residual Reduction
Suspended Income Receivable (unbilled)
Suspended Income Accrued
Suspended IDC
Unearned Residual
Residual Income Accrued PTD

A General Ledger account does not appear on the report if there is no General Ledger balance and no detail record total.

The information contained in this document is the property of McCue Systems, Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. McCue Systems, Inc. assumes no liability for any inaccuracy that may appear in this document; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of McCue Systems, Inc. is prohibited.