Asset reconciliation
To reconcile assets (balances), the user provides a Liquidity amount – the balance of the company bank account, that covers the current asset liquidity. The system compares the entered amount with liquidity calculated by the system and shows discrepancies if they occur.
If a discrepancy is detected after reconciliation is done – the reconciliation state transits to Warning, and the user has the ability to run reconciliation again. It means the user can again input the corrected liquidity amount (after checking outside the system) and run a reconciliation.
System liquidity amount – the issuing_balance account (which reflects the system circulation) for the closed operational day, corresponding to the last day of the reconciliation period.
If no operational day matches the reconciliation period, the system will return an error: No closed day for the specified period – reconciliation for this period can not be performed.
Asset Reconciliation Manual:
Setup frequency:
- Perform system authorization as a service user with appropriate permission
- Open the menu “CFO“ → “Reconciliation”, select the needed asset, and press “View details”
- Select “Configure frequency“
- Select “Frequency“
- Press “Update“
Perform asset reconciliation:
- Perform system authorization as a service user with appropriate permission
- Open the menu “CFO“ → “Reconciliation”, select the needed asset, and press “View details”
- Select “Reconcile asset“
- Enter “Liquidity amount“
- Press “Reconcile“
When the system reconciles the liquidity reconciliation records appear in the “reconciliation/[Asset name]” list with status and result.