About Creating Reconciliations

You can create reconciliations for all account profiles, or for a filtered list of profiles.

The profile frequency, such as monthly or quarterly, must match the period frequency. When you create reconciliations, the status of all reconciliations is Pending until you change the Period status from Pending to Open.

You can create reconciliations from one of the following:

• Profiles, as described in Creating Reconciliations from Periods.
• Periods, as described in Creating Reconciliations from Profiles
• EPM Automate, as described in Creating Reconciliations Using EPM Automate Utility

Note:

Rules that reference periods in their filter conditions are not run when reconciliations are being created (from profiles or periods). You need to run such rules using the Run Rules option under Actions after the reconciliation is created.

Next Tasks

• Copy transactions from a prior reconciliation

• Add transactions and adjustments. You prepare reconciliations by entering transactions to explain differences between source system and subsystem balances, or to provide explanations for an account balance.

• Add Attachments and Add Comments to reconciliations.

Watch Creating Reconciliations Video

Click this link to watch the video: