Reconciliation Accounts

A reconciliation account identifies the account and ledger from which transactions are to be extracted for reconciliation or matching by the Reconciliation Manager (RCM).

Reconciliation accounts are defined using Reconciliation Accounts (RCA).

Reconciliation Manager reconciles two sets of transactions which appear in the top and bottom sections of the Reconciliation Manager window. A reconciliation account determines the source of a set of transactions.

This means that two reconciliation accounts must be defined for a reconciliation profile: one identifying the source of the top set of transactions; and the other identifying the source of the bottom set of transactions.

The transactions in each set are extracted from a particular account and ledger. You can extract transactions into the top and bottom sets from any of the following, depending on your requirements:

  • the same account, ledger and business unit
  • the same account but from different ledgers and/or business units
  • different accounts, ledgers and business units

For example:

  1. To reconcile the postings on a particular debtor account the reconciliation accounts for the profile would both extract transactions from the same debtor account and ledger. For one group of transactions you would extract credit transactions and for the other, debit transactions.
  2. To reconcile the bank statement details against the bank account postings in the ledger, you might load the bank statement transactions into a budget ledger for the bank account. You would then define two reconciliation accounts both extracting transactions from the bank account, but one extracting the bank account transactions from the actuals ledger and the other extracting the bank statement transactions from the budget ledger.
Note: In order to import a bank statement for reconciliation purposes, use Transfer Desk (TRD) to define the bank statement file layout using Format Designer, and map it to the Ledger data using Transformation Designer. You must then create an import profile in Import Profile Designer, using this transformation record, and run the import profile to import the data.
Note: Bank statements must be imported to a ledger other than Actuals.

The source account does not need to be stored permanently in the reconciliation account details. Instead it can be entered at run time. This enables you to use the same reconciliation profile and reconciliation accounts to reconcile different bank accounts or debtor accounts, depending on the requirements.