Reconcile Clearing Accounts

This overview outlines the recommended overall approach to reconciling clearing accounts.

1. Enter, transfer, upload, and post clearing account journal lines containing reconciliation references.

2. Run the automatic reconciliation process. Many related clearing account journal lines may be marked as reconciled during this process. As a result, the number of remaining unreconciled journal lines is reduced. This step therefore, mitigates an otherwise adverse impact on the performance of reporting on unreconciled journal lines.

3. Run the Unreconciled Transactions report to analyze why journal lines weren't reconciled during automatic reconciliation.

   Possible reasons are:

   • Anomalous reconciliation references, or no reconciliation references on related journal lines.

   • Total accounted debits and credits of related journal lines don't sum to zero.

   • Some transaction cycles might not have completed, so not all related in and out journal lines were recorded in the application.

4. Based on your analysis, take appropriate action.

   Possible actions are:

   • Update reconciliation references on journal lines on the Manual Reconciliation page or Reconcile Journal Lines spreadsheet, then rerun automatic reconciliation.

   • Reconcile journal lines on the Manual Reconciliation page or Reconcile Journal Lines spreadsheet. Manual reconciliation ignores the constraints of reconciliation references. You can also provide tolerances, so many lines that were left unreconciled due to some rounding differences can be reconciled manually.

   • Complete transaction cycles to bring in related in and out journal lines, then perform automatic or manual reconciliation.

5. Use the Reconciled Transactions report to analyze reconciled clearing account journal lines. Use the Reverse Reconciliation page or Reverse Reconciled Journal Lines spreadsheet to reverse a previous reconciliation.

6. Use the Inquire on Journal lines page to inquire on reconciled, reviewed, and unreconciled clearing account journal lines. You can also further report on reconciled, reviewed, and unreconciled journals using Oracle Transactional Business Intelligence. The General Ledger - Journals Real Time and the Subledger Accounting - Journals Real Time subject areas include reconciliation attributes.