How do I balance Business License to General Ledger?

General Ledger

Learn how to balance Business License transactions to the General Ledger using the accrual update method (paid and unpaid billings will update to the General Ledger). The cash clearing account balance should be zero at the end of each month. If the cash clearing account balance is not zero, then you need to find out why the account is out of balance and correct it.

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How do I balance Business License to General Ledger?
1. Watch a video
1. Printing the General Ledger Detail Ledger
1. Printing the Business License Transaction Register
1. Using General Ledger Account Inquiry to troubleshoot totals that don't balance
1. Printing the Cash Receipting Unposted GL Report
1. Balancing Business License accounts will affect these accounts
  1. Accounts Receivable balances
  1. Revenue balances
  1. Clearing account balances
1. How often should I balance Business License?
1. Fixing an NSF check

Watch a video

Balancing Business License to General Ledger (46m33s)

Printing the General Ledger Detail Ledger (at time marker 1m44s)
Learning more about the Cash Receipting category and distribution for business license (at time marker 3m30s)
Interpreting the General Ledger Detail Ledger (at time marker 7m59s)
Using the Business License Transaction Register to troubleshoot totals that don't balance (at time marker 9m51s)
Using the General Ledger Account Inquiry to troubleshoot totals that don't balance (10m27s)
Using the Cash Receipting Uposted General Ledger Report to troubleshoot totals that don't balance (at time marker 12m32s)
Updating un-updated payments from Cash Receipting to General Ledger (at time marker 13m55s)
Troubleshooting unknown amounts (15m15s)
Balancing AR balances from the General Ledger to the Business License Aging Report (at time marker 29m38s)
Entering journal amounts to correct double-posted amounts (32m34s)
Understanding what you want to see every month and exploring possible reasons for not balancing (at time marker 38m57s)
Fixing a bounced check (at time marker 39m16s)

Updated 26Jun2018

Printing the General Ledger Detail Ledger

From Connect General Ledger, print the Detail Ledger for Business License transactions. See the help topic titled Detail Ledger for help printing it. Set up the Selection Criteria to select your organization's cash clearing account and then print or preview the report.

You can use the report to see which transactions have been updated to the cash clearing account.

Printing the General Ledger Detail Ledger (at time marker 1m44s)

Interpreting the General Ledger Detail Ledger (at time marker 7m59s)

Updated 26Jun2018

Printing the Business License Transaction Register

See the help topic titled Business License Transaction Register (Connect Business License > Reports > Transaction Register)

Using the Business License Transaction Register to troubleshoot totals that don't balance (at time marker 9m51s)

Updated 26Jun2018

Using General Ledger Account Inquiry to troubleshoot totals that don't balance

Using General Ledger Account Inquiry to troubleshoot totals that don't balance (10m27s)

Updated 26Jun2018

Printing the Cash Receipting Unposted GL Report

See the help topic titled How do I print unposted transactions?

Using the Cash Receipting Uposted General Ledger Report to troubleshoot totals that don't balance (at time marker 12m32s)

Balancing Business License accounts will affect these accounts

Accounts Receivable balances

The Accounts Receivable balances on the General Ledger Detail Report will balance to the Aging Report in Business License. (See time marker 29m38s.)

Revenue balances

Clearing account balances

The clearing account balance should balance to zero at the end of every month.

Updated 27Jun2108

How often should I balance Business License?

Balancing each month is recommended. This is the easiest way to catch and resolve problems when the clearing account is out of balance.

Fixing an NSF check

A bounced check (at time marker 39m16s)

Updated 27Jun2018