Table of contents
Why we reconcile
We reconcile when a client's GL cannot be posted because it doesn’t balance, or it contains values that are not allocated to GL accounts. For fully managed clients, this is all part of the service. For supported clients, we offer this as a chargeable service. We know that a reconciliation is needed after we assign the GL (Assign GL button) then print the GL (Print GL button) in the Affinity GL module (the resulting Print GL Report tells us all we need to know).
There are two types of reconciliation:
Allocations. Required when the DR and CR totals match, but some pay element/cost centre values are not posting to a GL account (i.e. they are unallocated).
Balancing. Required when the total DR (debit) and CR (credit) values don’t match.
Let's work out what kind of reconciliation is needed.