Reconciliations

The reconciliation process matches debit and credit general ledger transactions within a specified date range.

Reconciliations can only be applied to individual accounts. No provision is made for reconciling offset accounts, for example, where expenses in one account, and corresponding recharges are in another.

Income and expense accounts can only be reconciled within the boundaries of one calendar year. For example, it will not be possible to match a transaction from period 6 last year with a transaction from period 2 this year. However, this constraint does not apply to balance form accounts.

Once transactions that originate from the general ledger or general ledger sub modules (for example, Cash Management), have been reconciled, they cannot be changed.

You can manually perform reconciliations, or Greentree can perform them automatically:

Manual Reconciliations

Allow either the debits or the credits to be selected first for reconciliation;
Automatically maintain a balance for the total debits and total credits selected;
Automatically maintain an unmatched Difference between the selected debits and credits;
Require a zero unmatched Difference before a reconciliation is possible;
Support the selection of multiple transactions.

Automatic Reconciliations

Are only available for Job Cost Work in Process accounts (timesheet transactions only) and Purchase Order Clearing accounts. You must reconcile all other accounts.
Match transactions that are linked between Job Cost timesheet entry and Job Cost AR invoices or PO receipt entry, and AP invoice entry.

Unreconciling

Reconcile previously reconciled transactions, either manual or automatic.