8.2 Reconcile

This topic describes the systematic instruction to select multiple records or single record to reconcile.

1. On Manual Recon screen, specify the required details and click Search.
   The Reconciliation screen displays with the invoices/debit notes and payments/credit notes are populated in the grid. In case, multiple unreconciled invoices/debit notes and/or payments/credit notes will be populated.

   Figure 8-4 Reconciliation

   
   

   
   Description of "Figure 8-4 Reconciliation"

   
   
2. In the Reconcile By field, select any of the following:
   • One Invoice to Many Payment/Credit Notes – To reconcile single invoice from multiple payments/credit notes.
   • Many Invoice to One Payment/Credit Note – To reconcile multiple invoices from single payment/credit note.

For One Invoice to Many Payment/Credit Notes:

3. In the Invoices/Debit Notes section, select the invoice/debit note to reconcile.
   The One Invoice to Many Payment/Credit Notes option selected.
4. In the Payments/Credit Notes section,
   1. Select the payment(s)/credit notes to reconcile.
   2. In the Amt to be Reconciled (Pay/Cr Note Ccy) column, enter the amount to reconcile in payment/credit notes currency.

For Many Invoices to One Payment/Credit Note:

5. In the Payments/Credit Notes section, select the payment/credit note to reconcile by.
   The Many Invoices to One Payment/Credit Note option selected.

   Figure 8-5 Many Invoices to One Payment/Credit Note

   
   

   
   Description of "Figure 8-5 Many Invoices to One Payment/Credit Note"

   
   
6. In the Invoices section,
   1. Select the invoice(s) to be reconciled.
   2. In the Amt to be Reconciled (Inv Ccy) field, enter the amount to be reconciled in invoice currency.
7. Optional: In the Rule Details column, click Details hyperlink to view rule details.
8. Click Proceed to move to the Allocation stage.
   The Allocation screen displays.

   Figure 8-6 Manual Recon - Allocation

   
   

   
   Description of "Figure 8-6 Manual Recon - Allocation"

   
   
9. Specify the fields on Manual Recon - Allocation screen.

   Note:

   The fields marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 8-3 Manual Recon - Allocation - Field Description

   Field	Description
   Payment/Credit Note Number	Displays the payment/credit note number.
   Payment/Credit Note Value Date	Displays the payment/credit note value date.
   Total Invoice Amount	Displays the total invoice amount post calculating base invoice amount, discount, and tax.
   Payment Party	Displays the party making the payment.
   Invoice Number	Displays the unique reference number of the invoice.
   Buyer	Displays the name of the buyer.
   Supplier	Displays the name of the supplier.
   Reconciled Invoice Amt	Displays the Reconciled invoice amount.
   Reconciled Amt	Displays the reconciled amount.
   Allocation Required	Switch on the toggle, if allocation required.
   Narration	Display the default narration value from the Recon Rule Definition maintenance as an editable field. If the narration is not provided in the recon rule maintenance, the system should display a blank text field. The user can edit this field, if Allocation Required toggle is enabled.
   Allocation Basis	Select the allocation basis to specify whether the allocation should be done based on the account or attribute of entity like cashflow/payment/invoice. The available options are: Account Based Attribute Based This field is displayed, if Allocation Required toggle is enabled.
   Allocation Details	Displays the Rule Details link. Click the link to specify the allocation details This field is displayed, if Allocation Required toggle is enabled.

10. In the Allocation Required column, enable the toggle to allocate the payment manually.
11. Click the Rule Details link in the Allocation Details screen.
    The Allocation Details overlay screen displays.

    Figure 8-7 Allocation Details

    
    

    
    Description of "Figure 8-7 Allocation Details"

    
    
12. Specify the fields on Allocation Details screen.

    For more information on fields, refer to the field description table.

    Table 8-4 Allocation Details - Field Description

    Field	Description
    Amount to be Allocated	Displays the amount to be allocated to the virtual account.
    Allocation Basis	Displays the allocation basis that is, whether the allocation is done based on the Account or Attribute.
    Virtual Account	Displays the default Virtual Account, if available, defined in the rule definition for Recon Category Allocation to Virtual Account. Or click the Search icon and select the virtual account.
    Account Balance	Displays the account balance of Virtual Account in account currency. The Virtual Account balance is fetched from VAM on selection of the Virtual Account.
    Exchange Rate	Displays the spot exchange rate (payment ccy and account ccy) from Common Core.
    Account Balance (Payment CCY)	Displays the account balance of the selected virtual account for allocation in payment currency. Note: The account balance in the payment currency is checked by the system against the allocated amount. If the account balance in the payment currency is exceeded by the allocated amount, a warning message will be shown: 'The amount to be allocated is greater than the account balance. Please adjust the allocation amount or the allocation account.'
    Amount Allocated	Specify the amount allocated to the selected virtual account.
    Percentage	Specify the percentage of the amount.
    Action	Click edit icon to edit the Allocation details. Click delete icon to delete the Allocation details row.

13. In the Virtual Account column, select the account to be allocated.
14. In the Allocated Amount column, specify the amount to be allocated for the respective virtual account.
15. In the Percentage column, specify the percentage of the amount.
16. Click Submit to confirm the reconciliation and send the record for authorization.