Microsoft Dynamics AX: Ledger Balance Verification in Trial Balance
Issue: Ledger balance does not match with the actual one.
Many times, clients face an issue when verifying the closing balance of ledger in AX. The closing balance of the ledger in Trial balance does not match with the actual one.
Scenario-1:
Closing Balance for year end date can be viewed from various places. Like;
General Ledger > common > Trial balance
General Ledger > Reports > Transactions > Trial Balance
General Ledger > Reports > Transactions > Balance list
For example: Below is the screen of trial balance showing the closing balance for the end date. You can view the end date by clicking on the Parameters at the top. Here, in the screen below, the closing balance for the ledger 110110 is $92,702,651.82
Now, when verifying the closing balance for the same ledger for the same period from the balance list report, it shows the balance as below $92,697,401.82
Scenario-2:
When doing inter-company transactions through the general journal, the closing balance of the ledgers in two companies should be the same with the opposite sign. It means, if in company1 the balance is $50,000 then in company2 the balance should be $-50,000.
Which may not sometimes as have shown in the screen below:
Company1
Ledger : 11501
closing balance : $-4,222,786.94
Company1
Ledger : 11501
closing balance : $4,222,816.94 Here, the balance should be $4,222,786.94
Solutions
To resolve, we can follow the below steps:
Process the year-end-closing for all the previous year’s end date, right from the initial fiscal period to the current one from GL->Periodic->Fiscal year close->Opening transactions.
Thereafter, go to GL->Setup->Dimensions->Financial Dimensions Sets and click the “Rebuild balances” button after selecting the financial dimension set “Main Account Set”.
(If Rebuild balance is not enable, reset the FocusState to “Initialize” from “In Process” in the DimensionHierarchy table for the selected financial dimension.)
Thereafter, in the Summary Trial Balance Report, select Primary Dimension Set as “Main Account Set”. Enter from Date and to Date as the year beginning and year closing.
Select the posting layer as current. DESELECT “Include opening transaction amount in detail” and “Closing Transactions”.
You will find that the balance of the ledger is verifying in summary trial balance report, balance list report, trial balance form.
