Balance Summary

Balance Summary contains the balance justification; format depends on the format assigned the reconciliation.

• Account Analysis Format—The Balance Summary section for account analysis reconciliations include:

  • Source System Beginning Balance—The balance from the last reconciliation performed for the account.

  • Net Activity—The change in the account balance from the last reconciliation performed.

  • Source System Balance—The balance imported from the source system or manually entered by the preparer.

  • Explained Balance—The sum of balance explanation transactions entered into the reconciliation.

  • Difference—Source System Balance, less the Explained Balance.

  • Adjustments—The sum of adjustment to the source system transactions entered into the reconciliation.

  • Unexplained Difference—Source System Balance, less the Explained Balance, less Adjustments.

• Balance Comparison Format—

  The Balance Summary for balance comparison reconciliations:

  • Source System Beginning Balance—The beginning balance imported from the source system

  • Net Activity—The change in the account from the last reconciliation performed

  • Source System Balance—The balance imported from the source system or entered by the preparer

  • Subsystem Balance—The balance imported from the subsystem or entered by the preparer

  • Difference—Source System Balance less the Subsystem Balance

  • Adjustments to the Source System—The sum of adjustment to the source system transactions entered

  • Adjusted Source System Balance—Source System Balance less the Adjustments to the Source System

  • Adjustments to the Subsystem—The sum of adjustment to the subsystem transactions entered

  • Adjusted Source System Balance—Subsystem Balance less the Adjustments to the Subsystem

  • Unexplained Difference—Source System Balance less the Subsystem Balance, less the Adjustments to the Source System, less the Adjustments to the Subsystem

Balance Summary labels can be customized on the format definition, so the row labels may not match the previous definitions. Because some balance rows may be hidden for balance comparison reconciliations, some rows may be missing from the reconciliation.

Depending on the reconciliation configuration, balances may be displayed in up to three currency buckets: entered, functional, and reporting. Multiple currencies may exist within one bucket.

Note:

Preparers can edit balances in the Summary Balances table for Reconciliations configured for manual entry of balances.

To edit balances:

1. From Quick Links, click Reconciliations, select a reconciliation with the status Open with Preparer for which you are the preparer.
2. Select Actions, and then Open.
3. In the Balance Summary table, click Edit.
4. Enter the balance information.
5. Click OK.

To edit attributes, in the area below the Balance Summary table, enter values for attributes.