AP To GL Reconciliation Variance Exceeds SEC Threshold (Doc ID 2190075.1)

Last updated on AUGUST 04, 2022

Applies to:

Goal

For the past two months we have experienced variances that we cannot identify the source of. The prior month AP Trial Balance plus new current month invoices minus current month payments should equal the current month AP Trial Balance (while accounting for some additional factors like voided payments in prior months, etc.) Also, the AP Trial Balance should reconcile with the GL.

The variance for August is still not understood and it exceeds the variance threshold of $5000. The quarterly close begins on Friday 9/30 and we expect this variance to increase. It is critical that this issue is either revolved or understood as the company is required to complete SEC reporting, which will not be possible with such a variance.
 

Solution

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