Construction Work Activity Reconciliation

An activity reconciliation is created when a construction work activity is closed. It is created to summarize costs and identify assets that were created, contributed to, or removed on the activity. It immediately gets routed for approval and placed in a Pending Approval status. Typically, the first person on the approval route will review and update the activity reconciliation.

The Approver can make updates to the reconciliation record, as needed, such as updating cost center and percentages from the Cost Distribution zone, or by adding property units, assets, in service, transaction, and retirement dates, quantities, and values from the Fixed Asset Updates or Contributed Assets zones. Once the record is finalized and approved, the reconciliation record moves to Closed, and financial transactions are created. Any fixed assets or customer contributed assets are recorded for export to integrated fixed asset systems, as applicable.