1. Administering Account Reconciliation
  2. Administering Reconciliation Compliance
  3. Managing the Reconciliation Process
  4. Preparing Reconciliations
  5. Reconciliation Terminology

Reconciliation Terminology

Terminology

There are three types of reconciliations:

  • Individual reconciliations
  • Summary or parent reconciliations
  • Group reconciliations
Term Definition
Reconciliation (Individual) A reconciliation that is done at the same segment level as the balance that was loaded into Data Management.

For example, if the balance is provided at the Company Code / Account level and a reconciliation profile is setup at the same segmentation, then it’s an individual reconciliation. The individual reconciliations are simply called reconciliations, whereas the Group Reconciliation is always referred to as a group reconciliation.

Summary Reconciliation A style of reconciliation that is unique to Account Reconciliation where we join multiple individual/group reconciliations into a single Summary reconciliation, which has its own view and workflow. The currently maximum number of individual/group reconciliations you can link into a Summary Reconciliation is 99.
Group Reconciliation

A reconciliation that is done at a "higher" segment level than the loaded Data Management balance. For example, if the balance is provided at the Company Code / Account / Cost Center level and a reconciliation profile is setup at the Company Code / Account segmentation level, then it should be a Group Reconciliation since there are potentially many balances that are rolled into the one profile in Account Reconciliation.

There is no maximum number of balances that can be part of a Group Reconciliation.

The balances that are rolled into the Group Reconciliation are sometimes called "child" balances by accountants since those child balances are joined into a single group reconciliation.

Sub-Segment (can also be called Child Segment) Any segment at a deeper or more detailed level than the profile segment. This is set up by an Administrator.
Detail Balance Balances at the sub-segment level, in other words, at a lower level than the reconciliation. For example, Detail might be in Data Management at the Company Code / Account / Cost Center level while the reconciliation profile is set up at the Company Code / Account segmentation level.

Note:

Sometimes another Industry term for this is "roll up" of detail or child balances to the Group Reconciliation level (profile level).