Reconciliation policies

When a period reconciliation is scheduled, the reconciliation policy is automatically run for all accounts with an attached reconciliation policy.

Reconciliation policies are used to automatically reconcile and complete a period reconciliation based on predefined criteria. For example, when a ledger balance or the out-of-balance amount is zero for a specific number of periods. Reconciliation policies can be attached to each account to reduce the volume of accounts that are manually reconciled.

The policy can include a combination of criteria. For example, zero ledger amount for two subsequent periods and no ledger transaction for two subsequent periods.

The policies are evaluated when the period end reconciliations are created. You can also manually evaluate the policy by processing an action on the period end reconciliation.

For more information about reconciliation policies, see Reconciliation setup in the Financials Setup and Administration Guide.