5 Balance Reconciliation

Balance Reconciliation reconciles the balances from the operational systems of a bank with the balances maintained in General Ledger (GL) of the bank. With DFCS, banks can also reconcile between General Ledgers maintained in the bank. The balances in the GL of a bank are the ones that are audited and duly certified by internal and external auditors. Hence, considered to be the final version of the truth in a bank. Therefore, all data extracted from any other operating system of a bank must be reconciled with the balances maintained in the GL to ensure they are complete, accurate, and comprehensive. It acts as an authentic and reliable base for any further decision-making.

The bank's operational data are sourced into standard product processor entities/tables. DFCS' GL Reconciliation has pre-configured GL/PP table GL code and corresponding balances, for which the reconciliation definition process must be executed.

An option is available to reconcile GL data with other operational data used by the bank, which does not flow into the standard Product Processors configured in the application.

The Balance Reconciliation feature of DFCS supports reconciliation by the following dimensions, As-of Date, Accounting Standard, Account Currency, Legal Entity, and GL Account.

Table 5-1 Mandatory Dimensions

Dimension
Accounting Standard
Account Currency
Legal Entity

Note:

As-Of Date and GL Accounts are not mandatory dimensions.

Table 5-2 Optional Dimensions

Dimension
Business Unit
Organization Unit
Branch
Product
Project
Ledger Identifier
Counterparty
Account

Note:

COA and ML segments are not supported by DFCS.

Note:

This set of dimensions corresponds to properties that are common across all product-processor and ledger balance data. Users can now include custom COA segment dimensions based on GL recon requirement.

Product Processors supported are:

  • Stage Bill Contracts
  • Stage Borrowings
  • Stage Annuity Contracts
  • Stage Casa
  • Stage Cards
  • Stage Futures Contracts
  • Stage Foreign Exchange Contracts
  • Stage Investments
  • Stage Letter Of Credit Contracts
  • Stage Leases Contracts
  • Stage Loan Contracts
  • Stage Over Draft Accounts
  • Stage Option Contracts
  • Stage Repo Contracts
  • Stage Swaps Contracts
  • Stage Term Deposit Contracts