If a General Ledger Reconciliation report does not select any data, what should you verify?

When a General Ledger Reconciliation report does not select any data, it is crucial to verify whether the Financial Category of Accounts Payable is appropriately assigned to liability accounts. This is important because the General Ledger creates relationships through financial categories that group accounts based on their roles in financial reporting. If the Accounts Payable category is not designated as a liability, the reconciliation report will not pull any data related to it, resulting in an empty report.

A proper assignment ensures that any transactions recorded under Accounts Payable are correctly classified and run through the reconciliation process. Additionally, it ensures compliance with accounting principles that require liability accounts to be accurately reflected in financial statements. This step is foundational, as it directly influences the effectiveness of the reconciliation process and the visibility of relevant data in reporting.

While other options relate to important aspects of the reconciliation process, ensuring the correct classification of Accounts Payable as a liability provides the fundamental basis needed for the report to function correctly and display relevant data.