7.2 Balance Reconciliation

The Profitability and Balanace Sheet Management Cloud Services's Balance Reconciliation module helps you to Reconcile the selected processing/instrument/account balances against the Management Ledger. If any differences are found, you will have the flexibility to choose significant differences and create plug entries for those in the Ledger_Instruments table.

Note:

All General Ledger Accounts must mandatorily have a Reconciliation product mapped to them.

You can define the dummy attributes for the Product-Currency combinations, whichever General Ledger Account is used for Reconciliation. Default dummy attributes are auto populated based on the linked product ID and currency selected in Reconciliation dimensions.

Reconciliation is a three-step process.

• Reconciliation Definition and Default Attributes setup
• Reconciliation Report verification
• Plug entry creation and writing the Reconciliation differences back to Ledger Instruments table

To access the Balance Reconciliation module, from the LHS Menu, navigate to Analytics, and select Balance Reconciliation.

The Balance Reconciliation landing screen displays the following two cards:

• Reconciliation Definition
• Default Attributes

Figure 7-150 Reconciliation Landing Screen