Integrating with Close Management

Reconciliation accounts and close tasks

Close tasks can be associated to one or more reconciliation accounts, including grouped accounts, standalone accounts, and non-accounts. When a close task is associated to a reconciliation account, the Reconciliation Task field on the close task is updated to true. When the close task is edited or removed and no other reconciliation accounts are assigned, the Reconciliation Task field on the close task is updated to false. If any period reconciliations for the account are in an Open status, the close task is updated on the period reconciliations that are open. When the period reconciliations are updated, close task errors can occur.

• For reconciliation accounts that are included in a consolidated group, the close task assignment is only at the group level. The same close task is automatically assigned to individual accounts in the group. When the close task is edited at the group level, the individual accounts in the group are automatically updated.
• For reconciliation accounts that are included in an independent group, a close task is not assigned at the group level. A close task can be assigned to each individual account in the group, and the close tasks need not be the same.

Reconciliations for period end

When period reconciliations are scheduled for accounts with a close task, the close task is the default on the period reconciliation. The close task can also be edited or removed on the period reconciliation. In addition, a close task can be assigned to a period reconciliation when one is not assigned. The reconciliation account and the Reconciliation Task field are not updated when a close task on the period reconciliation is edited.

• For a period reconciliation with an Open status and where the same period does not exist in Close Management, the new close task can be any active detail task in the definition process.
• For a period reconciliation with an open status and where the same period exists inClose Management in a scheduled or open status, the new close task must exist in the period in a Scheduled or In Process status.
• For a period reconciliation with an In Process status, the new task must exist in the same period that is open for work in Close Management and must be in a Scheduled or In Process status.

When a close task on a period reconciliation is updated on a consolidated and independent group, the same behavior occurs as on the reconciliation account.

Period reconciliations cannot be started if the close task is not scheduled and opened for work in the same period in Close Management. When a Start Reconciliation is completed, the associated close period task is also in an In Process status. If the period reconciliations are started late based on the associated close period task, then a reason code, or comment, or both are applied.