6.2 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. The bank's operational data are sourced into standard product processor entities or other operational data entities used by 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.

DFCS' GL Reconciliation has pre-configured definition process. Currently DFCS supports below type of reconciliation:

• General Ledger to Product Processor

Note:

For more information on Balance Reconciliation, see Balance Reconciliation in the Data Controls user guide.