Discrepancies with AP and GL account

Question

What causes Discrepancy in AP and GL account?

Below Discrepancies with AP and GL Account.

Items marked in RED are as a result of Application generating unexpected Gain/Loss Amounts and Adjustments in Accounts Payable.

Items marked in GREEN are GL Journals that need to be reversed

Row Labels	AP	GL	Grand Total
(blank)		633,263,334.12	633,263,334.12
CHE005	1,385.29	1,026,146.72	1,027,532.01
CRO001		-11,135,600.00	-11,135,600.00
GIL001	3,032,803.84	22,211,198.21	25,244,002.05
JAM001	5,189,640.00	-2,062,640.00	3,127,000.00
NDU001	0.00	-10,795,608.00	-10,795,608.00
(blank)
Grand Total	387,841,130.29	252,889,529.89	640,730,660.18

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Best answer by Laura02 13 April 2023, 16:57

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Laura02 · Accepted Answer

Hello,You have discovered the #1 reason for discrepancies between AP control account and GL: GL entries to a control account.You have also identified Gains/Losses posting incorrectly to AP. From what Module are the Gain/Loss entries, what kind of transactions? Possibly Gain/Loss on Currency, Gain/Loss on sale of Asset?Gain/Loss accounts on Fixed Assets classesGain/Loss on CurrenciesSometimes a user enters the AP Account on a Bill and that too will cause discrepancy because we see an open Bill on the Aging and debit/credit to the same AP account in GL.When you have adjusted the AP account to match the Aging, remember to Un-check “Allow Manual Entry” in the Chart of Accounts.

Laura02 · Answer

​Hello @helpdesk37 ,Were you able to identify the source screen of the Gain or Loss and update the accounts to something other than AP?Then enter a journal transaction to remove the Gain/Loss from the AP control account.At this point, the AP control account should match the AP Aging report. When the AP Control Account matches the AP Aging report, un-check ‘Allow Manual Entry’ for the AP Account in the GL Chart of Accounts screen.Laura​

Discrepancies with AP and GL account

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