Once an Administrator has set up and configured group reconciliations, preparers can work on performing reconciliations:
This flow is similar to individual reconciliations.
- Prepare group reconciliations - this section describes the differences a preparer sees for a group reconciliation vs an individual reconciliation.
- Create transactions for a group reconciliation
- Import transactions
Preparing Group Reconciliations - Key Differences
While preparing group reconciliations, there are some key differences between a individual reconciliation and a group reconciliation. Let's review these differences:
Reconciliation Actions Differences
If you look at a group reconciliation, you will notice these differences between a group reconciliation and a reconciliation not configured with sub-segments.
The Balance Summary looks the same, but notice the Group Detail link. Once you click the link, you see the sub-segments balances.
Notice the following differences:
- The sub-segments (Profile Segment 3 and Profile Segment 4) appear on the filter point of view as selectable.
If you filter on just one sub-segment (i.e. Profile Segment 3) you can see the bucket (i.e. Functional) per currency. and the Source System, Balance Explanations, Count, and the Differences.
Note:There is a row for every bucket and currency.
This example shows an Account Analysis reconciliation and if you click on the Source System amount, you get a drill-through to Data Management. For Balance Summary, you would also see SubSystem Balances. On the Balance Explanation, you can drill through to the Balance Explanation tab with explanations filtered.
Reconciliation List Filtering on Group Profile AttributeA Group Profile attribute has been added so that you can filter the list of reconciliations for group reconciliations. Once an Administrator sets up the group reconciliation, that attribute is available for filtering.
Viewing Reconciliation Balances and Detail Balances
From the Reconciliations card, you can see where the data is at the higher level balance in a reconciliation. Also visible is detail level information and this helps you see where a data load went to and see which reconciliations or profile they are associated with.
There are two new tabs for reconciliations: Reconciliation Balances and Detail Balances:
- The Reconciliation Balances tab always displays and shows balances at the reconciliation level for all reconciliations whether they are group or individual reconciliations.
- The Detail Balances tab only displays once at least one profile sub-segment has been enabled and shows balances that are child balances within a group reconciliation.
Note:You only see the Detail Balances for data going forward and not for the time period before loading with sub-segments was turned on by the Administrator.
To access Reconciliation Balances:
- From Home, click Reconciliations.
- On the left side, access the Reconciliation Balance tab .
Users can now see the balances within all reconciliations and filter on the list. For group reconciliations, you can filter on the list, , export to Excel, and prove the unexplained differences at the detail balance level.
To access the Detail Balances list:
Note:This is not shown until at least one sub-segment profile segment has been enabled.
Creating Transactions for a Group Reconciliation
When you create transactions for a group reconciliation, note that you can use the optional sub-segments field to associate the transactions with individual balances.
Import of Transactions for a Group Reconciliation
Note that when you are performing a bulk import of transactions to Reconciliation Compliance, you can add sub-segments to the header of the import file. An example is Short Description, Long Description, Transaction Date, Amount, Amount Currency1, Attribute1, Attribute Value1, SubSegment1, SubSegment2. . This layout can be created using Export.