Accounting › Financial Controls
Reconciliation Policies
Which accounts are reconciled, to what, how often and by whom. The accounts nobody reconciles are where errors live for years.
Where to find it
- Module: Accounting
- Group: Close & Compliance
- Section: Financial Controls
- Screen: Reconciliation Policies
Address in the console: /accounting/reconciliation-policies
List · 11 columns · 12 fields on its form · 1 of them required
What the list shows
These are the columns of the list, in the order they are drawn. Any of them can be sorted on, filtered on, hidden, or exported.
| Column | Kind | Field name |
|---|---|---|
| Account | Code | account_no |
| Name | Text | account_name |
| Type | Status | account_type |
| Frequency | Status | frequency |
| Reconciled to | Status | source |
| Risk | Status | risk_rating |
| Tolerance | Amount | tolerance |
| Preparer | Text | preparer_name |
| Reviewer | Text | reviewer_name |
| Due days | Number | due_days |
| Active | Yes or no | is_active |
The form
What is asked for when a record is created here. Required fields are marked; a choice drawn from a configuration list is one an administrator can extend without a release.
| Field | Type | Choices | Notes |
|---|---|---|---|
| Account required | Choice | Looked up from existing records | |
| Frequency | Choice | monthly, quarterly, annual, on_movement, none | |
| Reconciled to | Choice | subledger, bank_statement, third_party, schedule, physical_count, confirmation, system, analysis | An account reconciled to itself is not reconciled. |
| Risk rating | Choice | high, medium, low | |
| Materiality | Number | ||
| Tolerance | Number | ||
| Preparer | Choice | Looked up from existing records | |
| Reviewer | Choice | Looked up from existing records | |
| Days after period end | Number | A reconciliation completed after the accounts are published is one that found nothing in time. | |
| Requires review | Yes or no | ||
| Active | Yes or no | ||
| Notes | Long text |
The rules that apply here
Everything on this screen obeys the platform rules rather than rules of its own. The ones worth knowing before you use it:
- Narrowing a list — search, conditions, sort, totals, export and saved views.
- What may be changed — the five grounds a record may not be edited on.
- Companies and business units — what the switcher above this list is doing to it.
- Creating a record — required fields, where choices come from, and how the number is allocated.
- Importing a spreadsheet — this screen accepts one, and it runs through the same rules as typing.