Checking for Missing Reconciliations
It is important that you check for missing reconciliations to ensure completeness. This action double checks to ensure that reconciliations exist for all profiles that should have them in a given period.
There are various reasons you could have missing reconciliations:
- New profile - for example, a profile was created after the reconciliations were created for a given period
- Missing required information - for example, a profile is missing workflow or currency information
- Deleted - for example, the profile was deleted from the period
- Inactive - for example, the profile was flagged as inactive.
For example, if you reconcile Equity on a quarterly basis, this account will not show up as a missing reconciliation during the January and February periods, but it will show up for the March period (assuming March is your quarter end).
Note:
Inactive profiles are not considered when you check for missing reconciliations.Missing reconciliations can occur if you forget to create reconciliations for profiles. This can happen if you add profiles later in the period after reconciliations have been created, or if reconciliations were created and subsequently deleted.
To check for missing reconciliations: