Viewing Reconciliation Summary Headers

To perform a reconciliation:

1. Select Reconciliations.
2. Click an account to open Reconciliation Actions.
3. The Summary tab is displayed by default.

• Account ID—The account ID per the profile definition.

• Name—The account name per the profile definition.

• Description—The account description from the profile definition.

• Period Name—The period to which the reconciliation pertains.

• Status—Identifies the status of the reconciliation. Values include: Pending, Open (with Preparer, Reviewer 1, Reviewer 2, ...), or Closed.

• Start Date—The start date of the reconciliation (the first date the preparer can begin working on the reconciliation).

• End Date—The final end date of the reconciliation (the due date of the final role assigned to the reconciliation).

• Organizational Unit—Represents a hierarchical entity-type structure that you can use to model your organization. Define a separate organizational unit for each entity for which separate reporting is required, or for entities that require different configurations for any of the following: holidays, work days, or viewer or commentator assignments. Organizational Units are defined in system settings.

  Process—The process per the profile definition.

• Account Type—The account type per the profile definition.

• Normal Balance—The normal balance per the profile definition; identifies whether the reconciliation is expected to contain a debit balance, a credit balance, or a debit or a credit balance. If the balance violates the normal balance, then a warning is set on the reconciliation.

• Risk Rating—The risk rating per the profile definition.

• Format—The format per the profile definition.

• Method—Account Analysis or Balance Comparison

Example 24-1 Warnings

Identifies the number of warnings in the reconciliation. If no warnings exist, this section is not visible.

Types of warnings:

• Balance Explanations

  Applies only to reconciliations assigned an account analysis format; identifies the number of balance explanation transactions in the reconciliation that contain aging violations

• Adjustments to the Source System

  Applies to all reconciliations; identifies the number of adjustments to the source system transactions in the reconciliation that contain aging violations

• Adjustments to the Subsystem

  Applies only to reconciliations assigned a balance comparison format; identifies the number of adjustments to the subsystem transactions in the reconciliation that contain aging violations

• Normal Balance Violation

  Occurs if the reconciliation is expected to have a debit balance, and the balance in the currencies is negative, or if the reconciliation is expected to have a credit balance, and the balance in the currencies is positive

• Maximum Age Limits

  Occurs if there is a maximum age limit and the reconciliation contains transactions where the age of the items (calculated as Period End Date minus Transaction Open Date) is greater than the maximum age limit provided.

Example 24-2 Attributes

Attributes

These attributes, defined on the format and profile dialogs, may be configured as optional or mandatory, and editable by the preparer, the reviewer, or the preparer or reviewer. For example, administrators might require preparers to enter a value in the "Time to Prepare" custom attribute and reviewers in the "Time to Review" custom attribute.