G/L Reconciliation Utility

TaxAutomation's General Ledger Reconciliation Utility for Vertex® is a fully automated software utility that is designed to reconcile the Vertex®SALES/USE register file to the general ledger.


This Utility is:

• Compatible with Unix and Windows NT Vertex® Installations.
• Not compatible with Oracle Vertex® Installations (PL/SQL version).


THE PROBLEM

Each month, many Vertex® users find that the general ledger SALES/USE tax transactions do not reconcile to the Vertex® register database. Balancing to the general ledger is a very time-consuming process .Alternatively, some Vertex® users do not make the necessary corrections and are not in compliance. Either way, it's not a good situation for the tax department.


THE CAUSE OF THE PROBLEM

Journal Entries-Most companies make numerous journal entries during the course of business. A common example is when a customer is issued a tax credit. When a customer tax credit is processed, the accountant credits the customer account and debits the tax account. For most Vertex® users, this data is not sent to Vertex® for processing. As a result, the Vertex® register database does not have a record of these journal entries. This is a very common accounting procedure and is not a Vertex® defect.

SAP Batch Processing - SAP will post tax to the general ledger for each taxable transaction. But, SAP uses a batch process to send data to Vertex®. Unfortunately, many SAP users find that the SAP batch process will frequently not send all transactions to Vertex for processing. Corporate IT departments and consultants have spent thousands of hours unsuccessfully trying to fix this problem. This is not a Vertex® defect.


THE SOLUTION

TaxAutomation's General Ledger Reconciliation Utility for Vertex®

HOW IT WORKS

TaxAutomation G/L Reconciliation Utility will perform the following steps automatically when you press one button each month:

• Compare the Vertex® register database to the general ledger file.
• Identify and flag each individual transaction that is contained in the General Ledger that is missing from the Vertex® register database.
• Send the "missing transactions" to Vertex®for processing. This automatically corrects the Vertex® register database and reconciles it to the G/L file.

                                             Reconciliation Utility Process Flow Chart
                                                                   (This is a fully automated software utility)

Copyright 2002 TaxAutomation Inc.