When reconciling a period, the system is performing two levels of reconciliation:
--1st. Current Period (Beginning Balance + Net Activity = Ending Balance), and
Assuming the current period is in balance, the system will perform a series of calculations to verify you are in balance history to date.
If you imported, deleted or changed the dollar amount of a record prior to a period that you are reconciling, this can cause the system to generate a balancing record to get in balance.
While the system is designed to stop a user from updating records in and prior to a reconciled period, periods can be re-opened by users.
Can I delete a System Generated Entry?
Yes, you can delete a system generated entry and correct/enter the appropriate transactions.
If you simply delete the record without addressing the underlying issue, the system will simply attempt to create the record again.
What do I do if I'm out of balance?
See the steps at the bottom of this page.
Reconciliation (Stay-In-Balance) Wizard
If you've 'passed' the first test and now are prompted with a window similar to (below) - you're in the right spot.
Let's examine the Reconciliation Wizard.
Confirms the period.
Is your Reconciliation Report out of balance?
If so, please follow these steps to identify the transaction and get back in balance.
When the system attempts to run the reconciliation report, it is really running two processes:
1. It first runs a report to make sure that your current period is in balance (Ending Balance = Beginning Balance + Net Activity).
If your current period is out of balance, you'll get the 'Red Screen' and be asked to re-enter your ending balance.
Of course, if the issue is in the net activity, you should exit the report and add/delete/update your current period's transactions.
If both the Bank and G/L are in balance, it then proceeds to the next process.
2. The system then runs the reconciliation report, which is a history to date report.
If there is an 'out-of-balance', a transaction(s) in a prior period has been added, deleted or adjusted.
Note: With the introduction of our 'Stay-In-Balance' lock feature, prior periods are automatically locked.
Check to see if transactions have been introduced circumventing our security (via SQL), or if a user has unlocked prior periods.
If you cannot identify the entry, re-run the reconciliation report for earlier periods until it is back in balance. Therefore if November 2018 and earlier was in balance, and December 2018 and forward is out of balance, investigate/make the entry for December 2018.
Once you identify the entry in the prior period entry that knocked it out of balance, please update.
Note: Depending on your version, the system may prohibit you from making the entry (Stay-In-Balance lock).
You'll then need to unmark the periods as reconciled in order to make the entry.
To do so: Run the 'Periods' report (All Reports > Periods).
Select/highlight the period. On the Report sub-menu select Actions > 'Unmark Period as Reconciled'.
Repeat this unmarking for the period containing the error as well as all subsequent periods.
In the example, you would unmark December 2018 and all subsequent/future periods.
You can then make the correcting entry.
Note: In current versions of the software, we have blocked all activity to reconciled periods with our 'Stay in Balance' feature. You may want to upgrade.
Once you have made the entry, re-run the Reconciliation Report for that period (i.e., December 2018).
Then re-run all subsequent periods.