DealerVu Training

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DealerVu Training

• Its All About Balancing

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The Concept of Balancing

• The General Ledger control account total
• MUST EQUAL
• The Subledger total
• As at the same cut-off (End) date

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What Should Be Checked?

• Unit Inventory
• Accounts Receivable
• Accounts Payable
• Floor Plan Payable

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Unit Inventory

• Compare
• GL Trial Balance values at end of month
• TO
• Accounting Reports Unit Inventory Transactions
  Report totals per GL account

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Accounts Receivable

• Compare
• GL Trial Balance values at end of month
• TO
• Accounting Reports Accounts Receivable Aging
  Report totals per GL account

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Accounts Payable

• Compare
• GL Trial Balance values at end of month
• TO
• Accounting Reports Accounts Payable Aging Report
  totals per GL account

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Accounts Payable Aging Summary
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It doesnt balance!
20000 - A/P - Trade 20000 - A/P - Trade
at 11/30/2006
Balance per GL (2,878.71)

Balance per AP Aging (Subledger) (3,600.57)

Difference 721.86
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If it does not balance

• Call DealerVu Support for assistance

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Floor Plan Payables

• Compare
• GL Trial Balance values at end of month
• TO
• Accounting Reports Accounts Payable Aging Report
  totals per GL account
• AND the
• Accounting Reports GL Accounts Payable Subledger
  Audit Report total per GL account

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Floor Plan Payables
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GL AP Subledger Audit Report
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When to Balance

• Every Month End
• Why
• Year End balancing is only last month
• Errors detected early
• Less investigation required
• Easier to find difference