Review general ledger accounts faster

Modified on Thu, Apr 27, 2023 at 3:31 PM

Business value

During the process of closing a period, it's often necessary to go through all transactions for a G/L account to ensure they're correct. The G/L Review action makes the review process faster and easier.

Feature details

To speed up the period-end process of reviewing and reconciling G/L accounts, you can review the G/L entries for G/L accounts and mark the entries as Reviewed.

Setting up G/L account reviews is easy. On the G/L Account Card page for each account, specify how to allow reviews in the Review Policy field.

Review Policy	Description
None	You can't mark entries for the account as reviewed. For example, use this option for accounts such as payables, receivables, and bank accounts where there are other ways to review their amounts.
Review allowed	You don't have to include entries in a review, and the amounts of the debit and credit entries don't have to balance. You remove a review, for example, if you've made a mistake.
Review allowed and match balance	The total amounts of the debit and credit entries in the review must match. The Debit and Credit fields show those amounts, and the Balance field shows the total. This setting also lets you remove a review. When you remove a review from one or more entries, the debit and credit entries must still balance.

To start a review, from the Chart of Accounts page, select a G/L account and then choose the Review Entries action. You can also open the Ledger Entries page for the account and choose Review Entries.

If you're upgrading or have migrated, you can review in bulk to mark all entries that were posted before a given date as reviewed.

Note

To use the feature, you must be assigned to the D365 GL REVIEW permission set.