Easy GL Account Clearing with AccTech GL Recon
A challenge faced by many organisations is reconciling GL clearing accounts. The headaches caused by the elusive ‘zero’ have forced companies to review internal restructuring of their finance processes and often in vain. Hours of productivity are wasted by staff, searching and sifting through transactions and paperwork to determine why their clearing account doesn’t balance.
AccTech GL Recon will clear your accounts and your headaches. The GL Recon Module is a facility to automatically reconcile Debit- and Credit entries on General Ledger Accounts. When the Reconciliation functionality is run, the system matches the Debit entries against Credit entries of the same value, on the account(s) selected. It can also be used across the entire General Ledger of Accounts.
When the Reconciliation is completed the system presents a reconciliation which lists all entries included in the reconciliation and highlights entries which have been matched, as well as those which have not been matched. The user can then able to manually match and partially match further entries, as appropriate.
- The GL Recon Module works on both Pervasive and Microsoft SQL databases.
- The GL Recon can be opened within Accpac or outside Accpac (via a Desktop Icon).
- The GL Recon Module can be run on a single GL Account or on multiple accounts.
- When running GL Reconciliations, opening Balances can be included in the selection criteria, as a reconciling item.
- The GL Recon Module keeps previous reconciliations as history. An on-going reconciliation can be continued by adding the following period’s transactions onto a previous reconciliation. The system will automatically match previously unmatched transactions to new transactions now added.
- Each user maintains their own GL Recon. Built-in security user access ensures users are not able to access or work on reconciliations other than the ones they have initiated.
- The GL Recon Module can be accessed by multiple users at the same time.
- The GL Recon can work on Functional Currency and on Source Currency.
- Reconciliations can be printed.
- The GL Recon Module can do reconciliations across financial periods and across different years.
Different methods on matching include:
- Amounts matching
– Round to Decimal – The system will match values up to and including the decimal point;
– Round before Decimal – The system will match values before the decimal point;
– None – No matching of the value of the transaction will be done.
- Description & Reference Auto Matching
– Exact Same – Matches descriptions or references which are exactly the same;
– Like Same – Matches descriptions or references which are similar;
– Reference to Description – Matches the Reference to the Description;
– Description to Reference – Matches the Description to the Reference;|
– None – No Description or Reference matching will be done.
- Amounts matching