Additional guidelines for tolerance percent and tolerance amount

  • The tolerance percent and the tolerance amount are used for all reconciliation options. The Reconciliation Variance GL account fields are used only for Reconcile To Other System option.

  • You also have an option to define tolerances on the Cash Transaction Category. The system will first look at the Category for a Tolerance then look to the Cash Account. You can either define a tolerance amount or a tolerance percent (not both).

  • When reconciling to a forecast, the system matches up bank statement lines to the forecast (Load and Reconcile action on the bank statement), if the difference between the matched statement lines and forecast line (matched by Cash Transaction Category) is within the tolerance amount or tolerance percent, it will automatically put the transactions into a Reconciled Status. No adjustments are done nor are any distributions created for the difference since nothing is posted from the forecast to the GL.

  • If you are reconciling to Other System, then the Reconciliation Variance GL account is required and used for creating distributions for any reconciliation differences. During the Load and Reconcile process, for transactions that are matched together, if the difference is within the tolerance amount or tolerance percent, the reconciled amount is adjusted to the amount matched from the bank line(s). If there are more than one GL or Other System (Non-Cash Ledger) transactions matched to the statement line(s), then the last transaction is adjusted for the difference amount. The system will then automatically create a distribution using the GL account defined on the Cash Account.