About Accounts Receivable Reporting and Reconciliation
Reconciliation confirms that your account balances in the General Ledger are accurate and can help you identify and correct any discrepancies. Two tasks are required to complete an accounts receivable reconciliation: reviewing customer invoices outstanding and ensuring your total accounts receivable balances agree with the outstanding amount.
How often you reconcile your accounts receivable and when is determined at the unit level; follow established departmental procedures and guidelines. You may also review the University Controller's Reconciliation Guidelines for additional guidance.
Contact your Senior Fiscal Officer, Cost Center Manager, or other departmental finance leader with questions about reconciliation.
General Ledger Balance
This report provides a list of invoices along with their payment status, aging, collections status, and more. Use it to reconcile open receivables and to follow up with customers who are past due but have not yet been transferred to Collections. Accounts more than 60 days past their due date are transferred to University Collections.
Questions this report can answer
This report can help you answer questions such as:
- What are the debit and credit balances in my accounts receivable ledger accounts?
- How can I see operational journals associated with my customer invoices by accounting period?
Recommended Filters
The following are recommended to aid with obtaining balances for you accounts receivable ledger accounts. Other filters may be required, depending on your business need.
- Company = The Ohio State University
- Ledger = Actuals
- Period = Accounting period for which you would like to pull balances
- Journal Source = Customer Invoice (if you bill customers using Workday)
- Worktags = worktags for which you would like to pull balances (see Notes)
Notes
- If you track Cost Center, Balancing Unit, Fund, and Function at the header level of your invoices, you may include these values in the Worktags filter. If you invoice at the line level (the default), you may only include Balancing Unit and Fund in the Worktags filter.
- If you track worktags at the invoice line level, using Cost Center in the Worktags filter will return limited or no results because it is not a worktag required to generate a balance sheet. Cost Center does not automatically populate on the AR side of a journal entry produced when an invoice is created in Workday.