Setting up reconciliation

In the Reconciliation and Archiving Period Status (tfgld0177m000) session, click Generate Reconciliation Groups to create initial records for all existing reconciliation groups.

You can also use this function for reconciliation groups added later. Existing records are not changed.

If this has not already been done, you must run the Initialize Mapping Scheme Data (tcfin0210m000) session. The data is only generated for the packages and modules that are selected in the Implemented Software Components (tccom0100s000) session.

If you have included additional packages or modules, or added integration document types for newly integrated external applications, you must run the Initialize Mapping Scheme Data (tcfin0210m000) session again. The earlier initialized data is not affected.

Use the Reconciliation Groups (tcfin0120m000) session to complete the details of the generated reconciliation groups. For a detailed description of the reconciliation group characteristics, refer to Reconciliation group details.

If you start using LN for the first time, you must enter the existing balances of your ledger accounts as opening balances in Financials. As part of the reconciliation setup, the same opening balances can also be created in the Reconciliation Data table for the reconciliation groups that you use, for example, for Work in Progress (WIP) accounts and Inventory accounts. Use the Opening Balances for Reconciliation (tfgld4195m000) session.

To check whether the created opening balances are correct per ledger account, you can use the Print Reconciliation Data (tfgld4495m000) session and select the Compare Reconciliation with Finalized General Ledger check box to print a report.