The Schedule Account Summary Report provides an overview of transactions posted to a specific account across multiple control numbers. It is designed to help dealership accounting staff track financial activity within a selected account over a defined period.
When to Use It:
- Monthly Reconciliation: To verify all entries posted to a specific account (e.g., Accounts Payable or Receivables) during the month.
- Audit Preparation: To provide auditors with a clear breakdown of account activity, including control descriptions and reference numbers.
- Vendor or Customer Review: To analyze transactions tied to specific vendors or customers, especially when grouped by control numbers.
- Error Investigation: To identify and correct misposted entries or unusual amounts within an account.
Who Uses the Schedule Account Summary Report, How Often, and Why
