Accrued Expenses Reconciliation Template
Reconcile accrued expense GL accounts to supporting schedules. Verify accruals are appropriate and adjust reversal entries.
How to use this template
Identify all accrual accounts
List all GL accounts that contain period-end accruals: accrued payroll, accrued utilities, accrued professional fees, warranty reserves, etc.
Reconcile to supporting schedules
For each accrual account, tie GL balance to the supporting accrual schedule or calculation. Verify all components are included.
Review accrual methodology
Confirm accrual calculation logic is documented and consistently applied. Test calculation for reasonableness (e.g., utilities based on usage).
Track reversals
Document which accruals from prior period were reversed. Verify reversals matched actual payment or expense posted.
Prepare new accruals
Record new period accruals. Ensure offset to appropriate expense account and that supporting documentation is attached.
Why use this template
- Prevents double-recording of expenses and accruals
- Ensures accruals are reversed when actual invoice is recorded
- Maintains consistent accrual methodology period to period
- Provides clear audit trail for accrual vs. actual reconciliation
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