Overview of Clearing Accounts Reconciliation

Clearing accounts reconciliation offers automatic and manual methods to group, match, and reconcile related in and out journal lines that no longer contribute to an account's ending balance.

You can analyze those unreconciled journal lines that are both relevant and responsible for the buildup of the ending balance in a clearing account.

The following figure shows the process flow for clearing accounts reconciliation. Reconciliation can be automatic or manual. You can run reconciliations reports and also reverse reconciliations.

The process flow for reconciling clearing accounts includes reconciling automatically and manually, marking lines as reviewed, reversing reconciliations, and running reconciliation reports.

The recommended approach for reconciling clearing accounts is to run automatic reconciliation to process the majority of the journal lines, based on your setup. Then use manual reconciliation to resolve the journal lines that weren't reconciled automatically. You can also reverse incorrect reconciliations. Reports are available to help with this process.

Note: Clearing accounts reconciliation is based on accounted amounts, not entered amounts.