Recently I was working on a Purchases Clearing reconciliation as a favor to the Controller at my company. It wasn't a very fun project, but we needed to make sure that the Purchases Clearing account agreed to the General Ledger so our auditors would be happy. I was asked by the Controller to help out and so I went to work. In Sage 500 ERP, the individual debit and credit transactions to the General Ledger maintain a link back to the source transaction that they came from. For example, if you … [Read more...]