Free License - Understanding Reconciliation Account Types
Account Reconciliation supports two reconciliation types based on the support source configuration:
Bank Account Reconciliation
Uses bank statements as the support source.
Enables automatic transaction matching through AI.
Requires bank statement files in Excel, CSV, or PDF format.
Requires GL Balance and GL Lines before matching occurs.
Manual Reconciliation
Used for accounts without bank statements (accrued expenses, prepaid accounts, and similar).
Requires manual entry of support balance.
Uses unmatched line items to document variances.
Requires GL Balance. GL Lines are not required for manual accounts.
Reconciliation Workflow
Account Reconciliation uses a three-stage approval workflow. After you set GL Balance and import GL Lines (for bank accounts), the workflow works the same as Enterprise.
Stage |
Description |
Status Indicator |
|---|---|---|
Preparation |
Preparer sets GL Balance, adds GL Lines, uploads bank statements, and performs matching. |
Not Started (grey) or In Progress (blue) |
Review |
Reviewer examines the reconciliation and approves or rejects it. |
In Review (yellow) |
Approval |
Approver provides final sign-off or rejects the reconciliation. |
Pending Approval (orange) or Approved (green) |
Modifying Data After Preparation Stage
To modify GL Balance or GL Lines after the Preparation stage:
Revert the reconciliation to In Progress status.
Restart the reconciliation to apply changes.
Workflow Rules
Role Assignment: Preparer and Reviewer can be the same person. Reviewer and Approver cannot be the same person.
Comments: Comments are optional when submitting or approving. Comments are mandatory when rejecting.
Revert Approval: Only the original approver can revert the approval.
Reconciliation Workflow Restrictions
To protect data integrity and maintain proper audit trails, editing actions are automatically disabled once a reconciliation moves beyond the Preparation stage.
Actions are also blocked if the reconciliation for the same account in a prior period is still open. The system displays a message indicating that you cannot perform any action until the prior period reconciliation is closed.
Bank Account Reconciliations
Once a bank reconciliation is submitted for review, the following actions are locked:
Set GL Balance
Import GL Balance
Add GL Lines
Edit GL Lines
Delete GL Lines
Match transactions
Unmatch transactions
Upload files
Edit transaction details
Delete transactions
Manual Reconciliations
Once a manual reconciliation is submitted for review, the following actions are locked:
Set GL Balance
Set Support Balance
Add unmatched line items
Edit unmatched lines
Delete unmatched lines
Upload files