Reconciling Sales to Income Statement The following steps describe how to reconcile Sales to Income Statement in BMS
Your G/L creates your Income Statement
Print your G/L Detail Report for a specific period in the current year. Print the report to Excel.
Within the Excel report, look for sources other than the OP Journal. (Anything that comes from any other journal will not be in the Invoice Register History or the Sales Analysis.)
In the Excel report, look at the dates of the items showing. Anything other than the current period / current year, is something that should not be posted in that period.
Items posted into a closed period of the current year cannot be reversed.
Items posted into periods which are currently open in the current year may be reversed.
Next, you can look at your Invoice Register History, and then run your Sales Analysis by Invoice number, and then by job number in a one year date range. Print this report to Excel.
Then, compare the invoice numbers from both reports to see where you may find a variance. (If you click on the invoice number, it would then tell you the job number so you can go back to the job to investigate.)
Keep in mind sales analysis and invoice register history reports are not designed to be reconciling documents. (They should be pretty close, but not something that would match to the penny.)
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