Defining Profiles
Profiles are one of the most important objects within Account Reconciliationand are created for both Reconciliation Compliance and Transaction Matching.
Profiles are the pre-cursors to reconciliations. They contain functions like the current preparer and reviewer assignments, account descriptions, instructions, format assignments, risk ratings. One profile will exist for each reconciliation performed. Each month, reconciliations are created from profiles by Administrators. The process of creating reconciliations from profiles causes a snapshot of the profiles to be taken and stored along with the reconciliations. Over time, profile configurations may change. However, the profile information stored with the reconciliations is never impacted by these changes.
For Reconciliation Compliance, one set of profiles may be created and used for both Account Analysis or Balance Comparison methods. To perform a Variance Analysis, you need to create a separate set of profiles however, Variance Analysis profiles can be used in the same periods as profiles using the other methods.
For Transaction Matching, one set of profiles may be created and used for both Account Analysis with Transaction Matching or Balance Comparison with Transaction Matching methods. To use the Transaction Matching Only method, you need to create a separate profile.
Administrators and authorized power users can update profiles and reconciliations to change user assignments and attributes used for reporting. Attributes that affect the type of reconciliation being performed (including formats and currency bucket configuration) cannot be changed on reconciliations. If changes must occur, the reconciliation must be deleted, and the changes must be applied to the profile directly. Then, the profile can be copied again to the period. A new reconciliation is created, which is a snapshot of the new profile configuration.
Profiles can be created manually or imported from a spreadsheet.
The copy-to-period function can occur in the Periods dialog box and in the Profile List View.
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