Sales Ledger Reconciliation
System
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Hi Guys,
I am getting so confused. Mostly because I do all our GL recs at work, but it is nothing like the setups I get in the books. If I find errors after I have balanced off my sales ledger control account, I know I do a jrnl to correct them, right? Do I go ahead then and add the entries to the actual account below where I balanced it off or what? Most of the time, I balance just fine. However, BPP seems to like throwing a loop in some of their problems and that just confuses me. For example, say you found a transposition error in both the memorandum and slca. WOuld you just do a journal entry and then record the difference in each account, even though they have been balanced off? WOuld you then rebalance the account?
Have I royally confused anyone yet?
I am getting so confused. Mostly because I do all our GL recs at work, but it is nothing like the setups I get in the books. If I find errors after I have balanced off my sales ledger control account, I know I do a jrnl to correct them, right? Do I go ahead then and add the entries to the actual account below where I balanced it off or what? Most of the time, I balance just fine. However, BPP seems to like throwing a loop in some of their problems and that just confuses me. For example, say you found a transposition error in both the memorandum and slca. WOuld you just do a journal entry and then record the difference in each account, even though they have been balanced off? WOuld you then rebalance the account?
Have I royally confused anyone yet?
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