Loading Transactions to Prior Month during close - Transaction Matching
I have a client that is utilizing daily periods to reconcile their loan level balances using Balance comparison with Transaction Matching. They will be comparing the balances between their loan servicing system and the GL and transaction matching between their servicing system and an Accounting Hub report with their subledger detail. They want to refresh the loan level detail daily, so we are currently auto adjusting all remaining unmatched transactions and creating outages lists on the new Transactions screen.
Our client has addressed the following use case that needs to be incorporated into the solution above:
During month end close they post several entries to prior period and need their reconciliations to capture those entries. For example, for daily period 11/30 they may post entries on 12/3, 12/4, 12/5 that are associated with November so those entries would be pushed back to the month of November. They would need to be capture those entries in November’s (11/30) reconciliation.