There are three types of reconciliations:
- Individual reconciliations
- Summary or parent reconciliations
- Group reconciliations
|Reconciliation (Individual)||A reconciliation that is done at the same segment level as the balance that was loaded into
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.|
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).