Reconcile Internal Transactions

This procedure is used to reconcile transactions in the balance account when two or more debit and credit transactions are balanced so they are matched against each other. This can be applied to accounts for accrued costs, for example.

In this way, only transactions contributing to a balance in a specified account entry combination are displayed, either on-screen or in a report. The matched transactions are not included.

A statement of account for the period processed can be printed in 'Account. Print Specification' (GLS535).

Before You Start

  • The Reconciliation check box must be selected in 'Settings - General Ledger' (CRS750/F).
  • The accounts in which the transactions are reconciled must be defined in 'Accounting Identity. Open' (CRS630) with the ‘Reconciliation account’ check box selected on the E panel.

Follow These Steps

  1. Start 'Account. Reconcile Internally' (GLS185/B).

  2. Enter the business account and the accounting date range for reconciliation. Press Enter.

  3. Select the records that are only preliminary or not reconciled using sorting order 2.

  4. Flag the transactions in one of the following ways:

    • If the transactions to be reconciled cancel each other when totaling, select option 11 = ‘Complete reconciliation’. The transactions are assigned status 9 (final reconciliation).
    • If the transactions to be reconciled will not cancel each other out, select option Select. The transactions are assigned status 8 (preliminary reconciliation).
    • To delete a completed reconciliation, select option 14 = ‘Delete reconciliation’. To delete a preliminary reconciliation, select the Delete option.

  5. Repeat all steps from step 2 until all transactions are reconciled. To end, press F3.