Reconciling Transactions

Note: Set the maximum number of lines, up to 300, in the Reconciliation Line Limit Without Batch setting. For more information, see Document Line Volume Settings.

To reconcile two sets of transactions:

  1. Click the Transaction Reconciliations tab.
  2. Click New to create a new transaction reconciliation.
  3. Enter a Reconciliation Name and Description for the new transaction reconciliation.
  4. Click Save.
  5. Click Transaction Reconciliation Actions | Select Transaction to Reconcile.
  6. If you do not have any saved transaction lines, the Retrieve Transaction filter window will open to retrieve the transaction lines. If you do have saved transaction lines, go to Step 8. In the Retrieve Transaction filter window, select a company then one or more trading periods, GLAs, and accounts for both the First and Second Company. You can click Copy Data to copy your selections from the First Company to the Second Company.
  7. Click Retrieve. Two lists of transactions that meet the two sets of filter criteria are displayed. Each list can display up to 10,000 transaction line items. You can use the Search box above each list to search for particular transactions.
  8. Select appropriate transactions from the left and right sides in one-to-one or one-to-many combinations. The Total Selected Transactions First Company and Total Selected Transactions Second Company fields in the summary bar are automatically updated in response to your selections.
  9. If the total balance of all selected transactions is zero, click either Reconcile and Continue to reconcile other transactions, or Reconcile and Finish to complete the reconciliation process and close the Transaction Reconciliation Window. A confirmation message displays.
  10. Click Commit. The selected transactions are reconciled.
Note:

If you click Reconcile and Continue and retrieve additional transactions for reconciliation, you cannot change the company selections on the Retrieve Transactions window. To reconcile transactions for different companies, you must create a new reconciliation.

When you have saved a reconciliation you can reload it using the Saved Reconciliation list view on the Transaction Reconciliations tab. The Status field shows whether the reconciliation is "Draft" or "Reconciled".

Note:

You can only delete a transaction reconciliation record if its Status is "Draft". You cannot delete the record if its Status is "Reconciled" or "Unreconciled".

Auto Match Transactions

You can select transactions to automatically reconcile using the Auto Match Settings. You can select up to 5 fields to use to match transactions automatically for reconciling. By default, the following fields are selected:

  • Transaction Date
  • Document Value
  • Document Currency
  • Intercompany Transfer

To automatically reconcile the transactions that have been retrieved:

  1. Click Auto-Match Settings.
  2. The default auto match fields display. You can apply these fields or select other transaction fields. You can select up to 5 fields. If you select Document Value, you must also select Document Currency. Only transaction lines that meet all the selected criteria will be reconciled.
  3. [Optional] If you want your selection criteria to apply to future reconciliations, select Save as Default.
  4. Click Apply.The Transaction Reconciliation window displays.
  5. If the transaction balance is zero, either click Reconcile and Continue to reconcile the auto-matched transaction lines and continue reconciling transactions, or click Reconcile and Finish if you do not want to reconcile additional transactions. A confirmation message displays.
  6. Click Continue. The selected transaction lines are reconciled.

Automatic reconciliation only reconciles unselected transaction lines. Any transaction lines that you had already selected manually are preserved.

Unreconcile Transactions

The Unreconcile Transactions button on the Transaction Reconciliation Actions is available once there are transaction line items available to unreconcile:

  1. Click Unreconcile Transactions.
  2. Select two matched transactions in the Transaction Reconciliation window. The Difference field in the summary bar should be 0.00.
  3. Click Unreconcile.

The status of the Transaction reconciliation record remains as "Reconciled" if it still has transaction line items on it. If a transaction reconciliation record has no transaction line items on it, then its status changes to "Unreconciled".

Note:

If you select all the transaction line items and click Unreconcile, then you are asked to confirm that you want to unreconcile them.

If you unreconcile all the transactions, then the Status of the Transaction Reconciliation record changes to "Unreconciled".

If you look at the Transaction Reconciliations list view while the unreconcile is processing, you see the Status shows "Unreconciling".

The Transaction Reconciliation History lists a new record showing the unreconciliation.

Tracking Errors in Batch Reconciliations

You are notified by email when batches have processed successfully. However, errors might occur during batch reconciliations, for example where you cannot modify a transaction line item. You can investigate these errors if the Transaction Line Item Validation Rule Active checkbox is selected.

  • When the batch is run and an error occurs but the batch completes, then the error status of the Transaction Reconciliation record in the list view is "Error on Save".
  • If you try to reconcile a record and an error occurs then the error status is "Error on Reconcile".
  • Similarly, if you try to unreconcile a record and an error occurs then the error status is "Error on Unreconcile".

Using Lightning Experience

To proceed:

  1. Click the Transaction Reconciliation record from the list view you want to rerun.
  2. Read the Error Details message from the Related List.
  3. Click Rerun from Transaction Reconciliation Actions to run the process again.
  4. You will receive an email only when the reconciliation batch is completed.
    • If the batch is run on Saving the reconciliation and the user aborts the batch, then the status of the transaction reconciliation record in the list view is "In Progress".
    • Similarly, if the batch has aborted in the reconciliation or unreconciliation process then the status of the transaction reconciliation record is "Reconciling" or "Unreconciling".
Note:

You can check the status of the Apex job while the batch job is running.