Example: Working on Reconciliations Using the Worklist and Reconciliation Summary

Let's walk through an example using the Worklist to identify the reconciliation to work on and how to use the Reconciliation summary dialog to work on reconciliations.

  1. From Home, click Worklist.
    Worklist example dialog

    Here's some ways you can easily get information about reconciliation work that is ongoing:

    • You can see a summary of the status by All, Late, Due Today, or Seven Days .

    • You can toggle the view to look at the reconciliations for yourself or another user.

    • You can use the Filter bar to filter by attributes such as name or account type.
  2. Open a reconciliation on the list by clicking the Actions icon next to the reconciliation and selecting Open Reconciliation. For example:
    actions icon

  3. The Reconciliations Summary dialog displays. You can easily do all your work from this dialog. Let's take a short tour.
    reconciliation summary
    • There is a toggle on the upper left that allows you to access the list of reconciliations. There is also a caution that there are unexplained differences and how many.
      toggle on reconciliation summary dialog
    • Note that on the upper right the Unexplained Difference shows up and also is automatically updated as you reconcile transactions.
      unexplained difference section of reconciliation summary
    • Balance Summary numbers panels showing columns for GL Balance and the AP Subledger Balance. If you click on the adjustments number or the tab, you can see a detailed list of transactions.
      balance summary of reconciliations dialog
    • The graph panel displays the trend over time of the previous reconciliations. New reconcilers can see if they are in the range that was previously achieved. Existing users can see trends and figure out if there are new issues to address based on those trends.
      prior ending balances graph

    • The right hand side contains key metrics for the reconciliation: who owns it, when it’s due, any violations, and the most recent comments and attachments. When the reconciliation is due in less than a day, the Days Until Due is displayed in terms of hours and minutes. For example: 10 hours, 45 minutes. When the reconciliation's due date is between one and two days, the Days Until Due is displayed in terms of days and hours. For example: 1 day, 17 hours.

      The following image shows the reconciliation's statistics when logged in as a preparer. The statistics are adjusted depending on your role. Notice that the Days Until Due is 1 day, 12 hours.


      metrics panel preparer view

      The following image shows the statistics for the same reconciliation, but when logged in as a Service Administrator. Notice that the Days Until Due is 7 days, which is the overall due date for the reconciliation.


      metrics panel Administrator view
    • There are drawers on the right hand side that allow you to view or enter additional information. When you click once on the icon, the drawer opens, and when you click again, it closes.
      reconciliation drawers on right side
      • Properties
        properties drawer on reconciliation summary
      • Instructions. These are instructions that provide help on reconciliation.
        instructions drawer on reconciliation summary
      • Alerts. Displays alerts and their status on reconciliations and transactions. For Transaction Matching alerts, the displayed alerts are grouped by source system and subsystem. See Creating Alerts
      • Workflow. Displays the deadlines and workflow users and their status.
        workflow drawer on reconciliation summary

        Note:

        The system stores who did the initial work on the reconciliation as a preparer (Preparer Actual) or reviewer (Reviewer Actual). This is helpful in case the reconciliation is reassigned or a member is deleted from a team. See Submitting, Approving, and Rejecting Reconciliations
      • Warnings
        warnings drawer on reconciliation dialog
      • Attributes
        attributes drawer on reconciliation dialog
      • Questions. These are questions that must be answered by preparers before submitting the reconciliation for review.
        questions drawer on reconciliation summary dialog
      • Attachments
        attachments drawer
      • Comments
        comments drawer on reconciliation dialog
      • Prior Reconciliations shows status for prior periods.
        prior reconciliations dialog
      • History
        history drawer on reconciliation summary
  4. If you are part of a team that is assigned a reconciliation, you can click Claim to claim the reconciliation so that you can start working on it. If someone else on the team has already claimed the reconciliation, you will receive a warning message to confirm that you wish to take over the claim.
  5. Now you work on reconciling the account by adding transactions to get the unexplained difference down to zero which is the goal of reconciling accounts. See the Preparing Reconciliations video to follow this example through to adding transactions as well as Adding Transactions
  6. If needed, you can add comments and attachments to the individual transactions.

  7. Answer any required questions on the reconciliation.
  8. Click the Summary tab to view the updated totals. The unexplained difference is now zero, so you can click Submit to send the reconciliation for review.