How Are Periods Handled Differently in Transaction Matching and Reconciliation Compliance?

One of the key differences between Reconciliation Compliance and Transaction Matching is in the handling of periods.

Reconciliation Compliance uses periods as a basic building block for reconciliations and there's a process to open, close and lock periods. In Reconciliation Compliance, locking a period prevents changes to reconciliations for the period. Closing a period prevents new reconciliations from being created, but allows reconciliations that are in progress to be completed and actions can be taken on reconciliations including data load. Notifications continue to run when a period is closed, but not if it is locked.

In Transaction Matching, when a period is locked, unmatched transactions are still available for matching during subsequent periods. The reason is that often you may get matching transactions coming in the next month, for the other side of the match, from the prior month.

Note:

For more information on the impact of periods on Transaction Matching, see What is Locked Through Date in Transaction Matching?, What is Closed Through Date in Transaction Matching?, and About Cosmetic and Non-Cosmetic Changes.