This simple formula can be used to ensure that your A/R is in balance:
Yesterday's End of Day Aged Trial Balance
PLUS any invoices or debits
MINUS any payments or credits made to A/R
SHOULD EQUAL Today's End of Day Aged Trial Balance.
To elaborate, let's use an example. If you want to reconcile your Accounts Receivable balance for December 2nd:
Run your Aged Trail Balance for December 1. This will give you the balance as of the end of the day on December 1, which also happens to be the beginning balance for December 2.
Run your Aged Trial Balance for December 2. This will give you the balance as of the end of the day on December 2.
The changes between your balance at the beginning of the day and the end of the day can be explained by any invoices (debits that increase your balance) that were created throughout the day and by any payments (credits that decrease your balance) that were taken throughout the day.
The easiest way to find these debits and credits are to look at the export report for the day, or to look at your revenue . Run your export for
