(Rpt_396) AMT to GL Reconciliation

Summarises the balance between the work order costs in AMT and the costs in the General Ledger for maintenance contract equipment. The report also reconciles contract billings.

Tips

This report does not reconcile Overheads, Plant Hire or other Operating Costs.

Initial parameters

|ControlType|,|IDlist|,|TextList|,|ProjectionTypes|,|UserID|,|Currency|

Report parameters

Default.

Additional filters

Contract, AMT Equipment, Currency, Cost Bearer, Parts/Labour/Misc

Click here to go to a description of the report output.

Reconciling work order settlements

A reconciliation process between AMT and the work order settlement system must be performed at least once a month, regardless of whether there is an interface between the two systems or not.

If AMT does not balance to the work order settlement system, management will not have confidence in the financial reporting produced by AMT.

The items that must reconcile between the two systems are the costs that have been incurred by each asset registered in AMT. The type of costs which have to be reconciled is dependent on the nature of the assets registered in AMT, for example, are the assets part of a maintenance contract, does the asset only incur direct maintenance costs and so on.

Types of costs which have to be reconciled based on the nature of the asset should be documented in a procedure prior to the installation of the software.

In certain implementations of AMT there will be a general ledger interface which provide you with the ability to perform a reconciliation within AMT and identify the items which do not balance.

For implementations which do not have this interface in place, the organisation will have to develop a procedure that ensures:

1. Reconciliations are performed on a routine basis.
2. Items which do not reconcile are investigated and addressed properly.