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Balance Sheet Account Reconciliation

Creating a New Balance Sheet Account Reconciliation

Open the App Launcher. Search for Balance Sheet Account Reconciliation.

The Balance Sheet Account Reconciliation process is meant to have a similar look and feel to the Bank Account Reconciliation process.

It is the User's responsibility to ensure that Ending Balance Difference = 0 for every Balance Sheet Account Reconciliation.

  • Select a Balance Sheet GL Account

  • Choose a Customer or Vendor Account (optional)

  • Start Date, End Date, and Beginning Balance are populated automatically

  • Ending Balance is to be filled in manually

Note: You cannot clone from a previous Balance Sheet Account Reconciliation.

The Beginning Balance is automatically set to the Ending Balance of the last Balance Sheet Account Reconciliation for the selected GL Account, if one exists:

If no prior Balance Sheet Account Reconciliation exists, the Start Date will default to the first day of the last month. Similarly, the End Date will default to the last day of the same month. The Beginning Balance will be set to 0.

Clearing and Unclearing Transactions 

Uncleared Transactions will appear on the right, while Cleared Transactions will be displayed on the left. By default, you can view up to 100 transactions per side. You can also filter and sort before making any selections.

When clicking on Clear Selected, the system will move the selected transaction(s) to the left side of the screen. The Cleared Amount, Calculated Ending Balance, and Ending Balance Difference fields will be updated automatically. The Unclear Selected button works in the same way but moves transactions in the opposite direction.

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