Reconcile Internal Transactions through (GLS385)

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.

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).

Limitations

The functionality replaces the old functionality for internal reconciliation through 'Account. Reconcile Internally' (GLS185), 'GL Account. Reconcile Automatically' (GLS190), and 'GL Account. Display Trans for Reconcil' (GLS195). The new process for internal reconciliation is enabled for an account when a reconciliation rule is defined in 'Accounting ID. Enter Reconciliation Rule' (CRS634). It uses 'Account. Reconcile Internally' (GLS385), and 'Reconcile Internally. Display Details' (GLS386).

These rules apply for the transaction recorded on an account defined in (CRS634):

• Reconciliation and completion of reconciliation numbers cannot be performed in (GLS185). You can still view the reconciliation numbers and delete preliminary reconciliation numbers in (GLS185) so that the transactions can be released for reconciliation using the new process.
• You cannot run (GLS190) and (GLS195) so reconciliation proposals in (GLS195) must be completed before the feature toggle is activated.
  Note: The transactions will be included in (GLS380) if the reconciliation proposal is not completed in (GLS195).

Workflow

Transactions can be reconciled automatically and manually. The general ledger is updated with reconciliation code, date, and number directly when a transaction is reconciled or deleted from a reconciliation number. The reconciliation numbers are displayed in (GLS385) and (GLS386).

1. Select the 'Reconciliation' check box in 'Settings - General Ledger' (CRS750/F).
2. 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.
3. Define a reconciliation rule in (CRS634) for how an account should be reconciled.
4. Select the dimensions for which reconciliation should be performed. Select among accounting dimension 2 – 7 and reconciliation reference. One or several dimension can be selected.
   Note: You cannot delete a reconciliation rule in (CRS634) when there are reconciliation numbers for the account in (GLS385), and you cannot change the reconciliation dimensions when there are preliminary reconciliation numbers for the account in (GLS385).

Automatic reconciliation

Follow these steps:

1. Start 'Reconciliation. Create' (GLS380) to start automatic reconciliation of transactions.
2. Select reconciliation operation 01-'Reconcile automatically', an accounting date interval, and an account interval.

Automatic reconciliation is done for transactions in the general ledger with the same accounting string where debit and credit balance. Only the accounting dimensions defined as reconciliation dimensions in (CRS634) are compared when checking the accounting string. Automatic close will be done as described above when there is a variance not greater than the amount specified in 'Limit amount for automatic close' in (CRS634).

The reconciliation numbers are displayed per account in (GLS385). In this program, you can drill down to see the detailed transactions connected to a reconciliation number, merge two reconciliation numbers, manually close a reconciliation number where there is a small variance, clear a reconciliation number in (GLS385) and (GLS386), and manually reconcile transactions.

Other actions

You can delete a reconciliation number in (GLS385). Select option 4='Delete' on a reconciliation number. The reconciliation code, number, and date in the general ledger is deleted and the transactions are released for reconciliation again. It is also possible to delete a single transaction in a reconciliation number in (GLS386).

The reconciliation tables in (GLS385) and (GLS386) can be cleared to avoid storing reconciliation numbers that are not required to be monitored. Select related option 9='Clear' on a single reconciliation number in (GLS385) or reconciliation operation 02='Clear reconciliation number' in (GLS380) to clear many reconciliation numbers. In (GLS380) select a reconciliation date interval and a range of accounts. The reconciliation code, number, and date in the general ledger remains unchanged to ensure that the transactions are not included in a new reconciliation.

You can use problem solving ID GL06 in 'Program Problem. Solve' (CRS418) to reset the status on a reconciliation number when a reconciliation operation is interrupted: