What happens to accounting periods during reconciliation?

When you drill down in the Receivables to General Ledger Reconciliation report, you see real-time details that make up balances from the summary report.

In order to guarantee that the summary balance for each type of activity agrees with the drill-down detail, you must ensure that you limit access to an accounting period when you run the Prepare Receivables to General Ledger Reconciliation process. Otherwise additional activity might be added to that period after the extract has run.

Set the accounting period status to Closed or Close Pending. You typically set the accounting period to Close Pending during the review process, and then reopen the period if adjusting entries need to be added. You must ensure that the subsequent accounting period is open, in order that business operations continue during the reconciliation process.

Note one important difference between a Closed and Close Pending status. If the period status is set to Closed, Receivables checks for incomplete invoices and orphan accounting lines. These validation checks aren't performed under a Close Pending status.

Either status will prevent additional entries in the closed period.

Note: You can't reopen a Closed or Close Pending Receivables accounting period once the general ledger accounting period has been closed. This guarantees that the subledger is properly synchronized to the general ledger.