Reconciliation Process

When an account has a Period End Reconciliation record created, it is in the status of Open. To start the reconciliation, click the Start Reconcilation button, which places the Period Reconciliation into an In Process status.


Making any change to the form also places the Period Reconciliation into the In Process status. For example, adding a Period Detail record.

While in the In Process status, you are performing the reconciliation. This includes adding Period Details, Reconciling Amounts and Period End Distributions. Some account reconciliations have other conditional tabs. Attach any pertinent documentation as attachments.

Once the performing of the reconciliation is complete, click Actions > Complete. This action changes the status either to Closed or to Pending Approval depending on whether the account has the Required Approval flag selected. To view the status of all accounts for the period, go to the Reconciliation Dashboard and select the year and period. The Period Reconciliations icon displays all periods and accounts with their status.

To post the journal entries that were specified and released during the account reconciliations, click Reconcilation Account > Interface Distributions.