Accounting Finance:General Ledger-Reconciling G/L Accounts

Overview

• General Ledger reconciliation is an important control that all organizations must do at regular periods.
• It is because of this routine that management knows they have reliable figures.
• You can use the account reconciliation routine for reconciling the balance of your control accounts, or on different account parts such as cost centres or project to their appropriate transactions.

Reconciling General Ledger Accounts

• Select ASW FastPath→Financial accounting→Reconciliation Tasks→Reconcile G/L Accounts

1. Enter Main
2. Enter Cost (optional)
3. Enter the number of a sequence if you want a specific sequence to be used for sorting the transaction and you have made selections that are valid for more than one sequence.
4. Click F6 to view the existing sequence.
5. Enter the code Y in field Reconciled if you want to see only the transactions you have reconciled.
6. Enter the code N if you want to see the unreconciled transactions.
7. Leave the field blank to view all transactions.
8. Click enter to view the transactions.

• Select Fold to view second detail line

1. Mark transaction you want to reconcile and click Reconcile line
2. If you want to undo the reconciliation, mark the transaction and press Un-reconcile line
3. If you want to see more detailed information on a transaction you can mark the transaction and click details

• Select Document or click F10. Note: Document details do not always exist.
• Click F12 to leave A/P transactions panel.
• Select Entire Voucher or click F2

1. To show the entire voucher with all transactions that belong to the same voucher
2. This is an alternative way to access the panel with all transactions in a voucher without having to access the selection panel again.

• Mark a new transaction you want to reconcile and click Reconcile line or click F12 to leave this panel and enter a new account.