Finance Reconciliation Workspace

Use this workspace to reconcile entries with the general ledger.

This workspace displays an account's unreconciled entries and lets you reconcile these against each other.

You typically use reconciliation for suspense accounts, whose entries need regular reconciliation to maintain a clear picture of outstanding entries.

The following rules govern reconciliations:

• You can only reconcile entries that balance.
• You can only reconcile entries that belong to the same company.
• You can only reconcile entries to accounts for which you selected the Reconciliation field in the Account Information Card workspace.

To perform a reconciliation, enter the account number for which you want to reconcile entries and set up selection criteria in the Selection Criteria island to identify the entries to be reconciled. Then use the Approve Reconciliation action to perform the reconciliation.

Maconomy ensures that no two users can reconcile the same entries at the same time. You receive a message if another user is trying to reconcile the same account and entries, and you cannot continue.