How do you reconcile and clear an aged GR/IR account?

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Answer

Analyze open GR/IR line items by age and direction: goods-received-not-invoiced lines should be accrued and chased with suppliers or cleared when invoices arrive; invoiced-not-received lines indicate posting errors, quantity mismatches, or returns to correct. Old residual balances are written off or adjusted with proper approval after root-cause review.

Real-world example A clean-up project clears two years of stale GR/IR entries, accruing genuine liabilities and writing off $6k of immaterial residuals.

Common follow-ups: What causes stale GR/IR balances? | Who approves GR/IR write-offs?

Reconciliations Aging Analysis Purchase Orders & 3-Way Matching

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