Opening Periods

Reconciliations in a period are Pending until the period status becomes Open. When an administrator changes the status to Open, auto-reconciliations that have met their start date are run.

If balances are not loaded for a reconciliation, or if the reconciliation contains transactions, auto-reconciliation is skipped for that reconciliation, the reconciliation status changes to Open with Preparer, and a notification is sent to the preparer.

If auto-reconciliation fails for a reconciliation (for example, the account balance is not zero for an account authorized for zero balance auto-reconciliation), the reconciliation status changes to Open with Preparer, and a notification is sent to the preparer.

For manual reconciliations that have met the start date, status becomes Open with Preparers and notifications are sent to preparers.