Reconciliation Management

Reconciliation Management lets you perform the following tasks.

Provide role-based access to the application. Users access their own springboards based on their security settings through the following springboards:

Note: 

The security administrator has his/her own springboard. But the Approver role is usually a separate role given in addition to another role. So the Approver role will have whatever springboard the other role has.

  • Reconciler
  • Reconciliation Manager
  • Reconciliation Administrator
  • Reconciliation Viewer
  • Reconciliation Security Administrator
  • Reconciliation Approver

Note The Reconciliation Approver role does not have its own springboard. The Reconciliation Approver actions are available on the springboard for the approver’s other role. For example, a Reconciliation Approver who is also a Reconciler, would access the Reconciliation Approver actions on their Reconciler springboard.

  • Set up a Master Listing of GL account that require reconciliations, including the ability to:
    • Identify high risk/priority accounts.
    • Identify the frequency the accounts are to be reconciled (based on periods).
    • Identify the level the accounts are reconciled (Company/Account or Accounting Unit /Account).
    • Auto load of the Infor Lawson Financials General Ledger Chart of Accounts.
    • Tie Close tasks to reconciliation and share information.
    • Identify who is responsible for the specific account reconciliations.
  • Store pertinent documentation (reports, invoices scans, spreadsheet files and so on).
  • Display information from the Infor Lawson Financials General Ledger.
    • The application captures account balance information directly from the General Ledger.
    • The application captures amounts directly from specific Infor Lawson Financials Reports.
      Note: Accounts Payable reconciliation exposes AP136 amounts (current functionality).
  • Automatically bring forward details from prior periods.
  • Automatically bring forward reconciling items from prior periods.
  • Create and maintain Prepaid Amortization Schedules and create period distributions directly from amortizations.
  • Route reconciliations and journal entries for appropriate approval.
  • Route reconciliations for review.
  • Reconcile Infor Lawson Financials General Ledger account transactions.
    • Match transactions within a GL Account (auto and manual).
    • Match subsystem details (auto and manual).
    • Match non-Infor Lawson system details (auto and manual).
    • Expose unmatched transactions as reconciling items.
    • Create journal entries for reconciling items.
  • Reconcile Cash Ledger transactions to a bank statement.
    • Match Cash Ledger to bank statements (auto and manual).
    • Expose unmatched transactions as reconciling items.
    • Tie last statement of period to GL Period End Reconciliation.
      Note: All statement reports are exposed on Period End Reconciliation. There is no need to duplicate.

Reconciliation Management accommodates the following reconciliation types:

  • GL Account Reconciliation Types
    • Balance to Balance "Basic Reconciliation"
    • Prepaid or Clearing Account (Amortization Schedule)
    • Detail to GL
  • GL to Subsystem
    • CB Cash Account
    • Accounts Payable Accrual (Balance)
  • Cash Reconciliation
    • Bank Statement Reconciliation to CB
    • Bank Statement Reconciliation to GL
    • Bank Statement Reconciliation to Non-Infor Lawson System