Bank accounts, selected expense accounts, and other general ledger accounts in the General Accounting system can be reconcile by the system. After performing the initial setup requirements, the accounts can easily reconcile on a periodic basis.

 

Manual reconciling of the accounts consists of the following steps:

  • Reconciling voided payment or receipts with zero amounts automatically (optional).
  • Creating or refreshing the reconciliations worktable for unreconciled transactions.
  • Performing the manual reconciliation for bank accounts, transit accounts, or clearing accounts.

 

Instead of manually reconcile voided payments and receipts, time can be save during the account reconciliation by running a program to automatically reconcile voided payments and those with zero amounts. The system selects payments that were voided manually or during automatic payment processing.

 

The Auto Reconcile Void Payment Program and Auto Reconcile Void Receipts marks voided payments and receipts as reconciled and updates the Account Ledger table (F0911). The program should be run before the Refresh Reconciliation File program to create the reconciliation worktable so that zero- amount and voided payments are not included in the worktable.

 

The Refresh Reconciliation program copies the unreconcile transaction detail from all reconcilable accounts from the Account Ledger table (F0911) into the Account Ledger Reconciliation worktable (F0911R).

 

Each time a new reconciliations worktable is created, the system removes all previous reconciled in the table and replaces them with new transactions that were entered since the last table was created.

 

When the reconciliation is completed, the system updates the reconciled transactions in the Account Ledger Reconciliation worktable (F0911R) and the Account Ledger table (F0911).

 

You can read more about the manual reconciliation process in document Overview of Clearing Account Reconciliation (Doc ID 1461344.1).