PUBLIC. How to Work with Internal and External Reconciliations. Solutions from SAP. SAP Business One 8.8. February 2010 English

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1 PUBLIC How to Work with Internal and External Reconciliations Solutions from SAP SAP Business One 8.8 February 2010 English

2 Contents... 4 Introduction... 4 What Is an Internal Reconciliation?... 4 What Is an External Reconciliation?... 4 When to Perform a Reconciliation Manually, Automatically, or Semiautomatically... 5 Preparing to Perform Internal and External Reconciliations... 6 Preparing to Perform Automatic Reconciliations... 6 Defining Automatic Reconciliation Difference Account... 6 Preparing to Perform Internal Reconciliations with Exchange-Rate Differences... 7 Defining Gain and Loss Accounts for Realized Exchange-Rate Differences... 7 Preparing to Perform Internal Reconciliations with Underpayment or Overpayment Amounts... 8 Defining Underpayment and Overpayment Accounts... 8 Specifying Maximum Underpayment and Overpayments Amounts Allowed... 9 Working with Internal Reconciliations Manually Performing Internal Reconciliations Manually Reconciling Business Partner Transactions Manually Reconciling Business Partner Transactions with Cash Discount Manually Reconciling Transactions Across Multiple Business Partners Manually Reconciling G/L Accounts Creating Adjustments Automatically Performing Internal Reconciliations Semiautomatically Performing Internal Reconciliations Managing Previous Internal Reconciliations Viewing Internal Reconciliation History Canceling Previous Internal Reconciliations Viewing Applied Transactions for a Specific Transaction Printing Internal Reconciliations Printing Reconciled and Unreconciled Transactions for Specific Business Partners or G/L Accounts Printing Previous Internal Reconciliations Handling Exchange-Rate Differences, Underpayment and Overpayment Amounts, Withholding Tax, and Deferred Tax When Performing Internal Reconciliations Handling Exchange-Rate Differences Handling Underpayment and Overpayment Amounts Handling Withholding Tax Handling Deferred Tax Working with External Reconciliations Working with External Reconciliations When Using the Bank Statement Processing Functionality Recording Transactions from External Statements Automatically Creating Incoming Payments to Reconcile Bank Statements Manually Performing External Reconciliations Automatically Performing External Reconciliations Semiautomatically Performing External Reconciliations Managing Previous External Reconciliations Viewing External Reconciliation History Canceling Previous External Reconciliations Re-creating Previous External Reconciliations SAP AG

3 Checking and Restoring Previous External Reconciliations Printing External Reconciliations Printing Reconciled and Unreconciled Transactions for Specific Business Partners or G/L Accounts Printing Previous External Reconciliations Importing External Bank Statement: Israel and Panama Manually Reconciling Bank Statements: ANZ, BR, CA, CN, CY, IN, JP, KO, SG, UK, US, and ZA Creating Adjustments: ANZ, BR, CA, CN, CY, IN, JP, KO, SG, UK, US, and ZA Examples for Performing Internal and External Reconciliations Performing Partial Manual Reconciliation for Business Partner Transactions Performing Manual Reconciliation for Business Partner Transactions Using Cash Discount Performing Manual Reconciliation Across Multiple Business Partners Performing Manual Reconciliation for G/L Accounts Using an Adjustment Performing Semiautomatic Internal or External Reconciliations Canceling Previous Internal Reconciliation Performing Manual Reconciliation for External Bank Statements Performing Manual Reconciliation for External Bank Statements: ANZ, BR, CA, CN, CY, IN, JP, KO, SG, UK, US, and ZA Authorizations Database Tables Reference Appendix: Rank Calculation in Reconciliation Recommendations Copyrights, Trademarks, and Disclaimers SAP AG

4 Introduction SAP Business One lets you match and clear transactions for business partners and G/L accounts (internal reconciliation) as well as for external account statements (external reconciliation). You can choose to reconcile accounts manually, automatically, or manually based recommendations from SAP Business One (semiautomatically). In addition, you can view the reconciliation history, print reconciled and unreconciled transactions, and, if necessary, cancel previous reconciliations. What Is an Internal Reconciliation? Matching and clearing transactions for business partners or for G/L accounts is part of the bookkeeping process. The internal reconciliation function in SAP Business One lets you match and clear transactions that remain open for a business partner in the application. You can perform either a partial or full reconciliation for a specific business partner or for multiple business partners. Most of the time, internal reconciliations take place automatically when you create incoming or outgoing payments linked to invoices. In this case, SAP Business One automatically reconciles payments with the linked invoices. Stand-alone transactions, such as payment on account, remain open since SAP Business One cannot automatically match such a payment to an open invoice. You make the decision about which invoice the payment should be applied to. With regard to reconciling G/L accounts, during some business processes, related debit and credit transactions are posted to the same G/L account. The business process is complete only when the account has matching debit and credit postings. You do not need to perform an internal reconciliation for every account that has debit and credit postings. You can use the internal reconciliation function as an internal control tool to identify incomplete, incorrect, or missing postings in your internal G/L accounts and in your business processes. For example, you would usually reconcile bank clearing, deferred tax, and allocation accounts. Internal reconciliations do not change the value of the reconciled accounts. When the account currency is the local currency or all currencies, internal reconciliations for business partners and for G/L accounts are always done in the local currency. When you reconcile a G/L account that is set as foreign currency, a journal entry is posted if an exchange-rate gain or loss occurs. What Is an External Reconciliation? External reconciliation is the comparison of open transactions within SAP Business One with an external account statement. Most commonly this is a bank statement. However, it could be a business partner s account statement containing a list of transactions that your customer sends to you as its vendor, for example. For external bank statement reconciliations, SAP Business One supports three different processes, each of which is relevant for different localizations: Recording transactions from bank statements using the Process External Bank Statement window and then reconciling the transactions using the reconciliation function. This process is relevant for all localizations. For more information, see Manually Performing External Reconciliations, Automatically Performing External Reconciliations, and Semiautomatically Performing External Reconciliations. Verifying the transactions recorded in SAP Business One with the balance received from the bank or other external source and creating adjustments, if required, using the manual reconciliation function. This process is relevant for the following localizations: Australia, Brazil, Canada, China, Cyprus, India, Japan, Korea, New Zealand, Singapore, South Africa, United Kingdom, and United States. For more information, see Manually Reconciling Bank Statements: AU, BR, CA, CN, CY, IN, JP, KO, SG, UK, US, and ZA. Recording and reconciling bank statements using the bank statement processing function. Bank statement processing is supported for the following localizations: Austria, Belgium, Brazil, China, SAP AG

5 Cyprus, Czech Republic, Denmark, Finland, France, Germany, Hungary, India, Italy, Japan, Korea, Netherlands, Norway, Poland, Russia, Singapore, Slovakia, Spain, Sweden, Switzerland, and United Kingdom. For more information, see Working with External Reconciliations When Using the Bank Statement Processing Functionality. For more information about external reconciliations in bank statement processing, see the online help for SAP Business One and How to Use Bank Statement Processing in Release 2007 in the documentation area of SAP Business One Customer Portal at When to Perform a Reconciliation Manually, Automatically, or Semiautomatically The following table describes when you should use each reconciliation type: Type Manual Automatic Used to Reconcile A small number of transactions, cases where partial reconciliations are required, or transactions posted to more than one business partner or G/L account. A large number of transactions or a range of business partners or G/L accounts, based on user-defined parameters and priorities. When you perform an automatic reconciliation for a range of business partners or G/L accounts, the reconciliation is done separately for each business partner or G/L account successively and not between transactions posted to different business partners or accounts. When you perform an automatic reconciliation, SAP Business One fully reconciles the transactions. If you allow automatic reconciliations with differences, SAP Business One posts any differences to the automatic reconciliation difference account. Semiautomatic A number of transactions manually, based on recommendations provided by SAP Business One. SAP AG

6 Preparing to Perform Internal and External Reconciliations Preparing to Perform Automatic Reconciliations You can perform automatic internal and external reconciliations of transactions with nonidentical amounts. To allow automatic reconciliations with differences, you must first define the automatic reconciliation difference account. Then, when you perform the automatic reconciliation, you specify the maximum amount of the difference that should be allowed. During automatic reconciliation, SAP Business One fully reconciles pairs of transactions. If a difference is found, and it less than or equal to the maximum difference amount you specified, it is posted to the automatic reconciliation difference account. For more information, see Automatically Performing Internal Reconciliations and Automatically Performing External Reconciliations. Defining Automatic Reconciliation Difference Account 1. From the SAP Business One Main Menu, choose Administration Setup Financials G/L Account Determination General tab. 2. In the Automatic Reconciliation Diff. field, specify an existing G/L account or define a new account. 3. To save your changes, choose the Update button. SAP AG

7 Preparing to Perform Internal Reconciliations with Exchange- Rate Differences When performing manual, automatic, or semiautomatic internal reconciliations for G/L accounts and for business partners that are set with a foreign currency, a journal entry is posted if an exchange-rate gain or loss occurs. To enable exchange-rate journal entries to be posted, you need to define both a gain account and a loss account for the realized exchange-rate difference. Those two accounts need to be defined in three different places, to handle exchange-rate differences for sales (relevant for customers), for purchasing (relevant for vendors), and for G/L accounts. Defining Gain and Loss Accounts for Realized Exchange-Rate Differences 1. From the SAP Business One Main Menu, choose Administration Setup Financials G/L Account Determination. 2. To enable exchange-rate journal entries to be posted for: Customers: choose the General subtab on the Sales tab. Vendors: choose the General subtab on the Purchasing tab. G/L accounts: choose the General tab. 3. In the Realized Exchange Diff. Gain and in the Realized Exchange Diff. Loss fields, specify existing G/L accounts or define new accounts. Perform this action for customers, vendors, and G/L accounts. 4. To save your changes, choose the Update button. SAP AG

8 Preparing to Perform Internal Reconciliations with Underpayment or Overpayment Amounts When you perform manual internal reconciliations involving incoming or outgoing payments in local currency, you can use functionality for underpayments and overpayments. Once the reconciliation is complete, SAP Business One posts the amount of the underpayment or overpayment to the respective account. To use underpayments and overpayments, specify the respective accounts and the maximum underpayment and overpayment amount allowed. Defining Underpayment and Overpayment Accounts 1. From the SAP Business One Main Menu, choose Administration Setup Financials G/L Account Determination. 2. To enable underpayment or overpayment journal entries to be posted for: Incoming payments: choose the General subtab on the Sales tab. Outgoing payments: choose the General subtab on the Purchasing tab. 3. In the General subtab on the Sales tab, in the Overpayment A/R Account and in the Underpayment A/R Account fields, specify existing G/L accounts or define new accounts. In the General subtab on the Purchasing tab, in the Overpayment A/P Account and in the Underpayment A/P Account fields, specify existing G/L accounts or define new accounts. 4. To save your changes, choose the Update button. SAP AG

9 Specifying Maximum Underpayment and Overpayments Amounts Allowed 1. From the SAP Business One Main Menu, choose Administration System Initialization Document Settings Per Document tab. 2. From the Document dropdown list, choose Incoming Payment or Outgoing Payment, and in the Under/Overpayment Amt Allowed field specify the maximum amount allowed for an underpayment or overpayment. Repeat this step for the other payment type. 3. To save your changes, choose the Update button. SAP AG

10 Working with Internal Reconciliations You can perform internal reconciliations manually, automatically, or semiautomatically for business partner transactions and for G/L accounts. You can perform partial reconciliations, create adjustments, and print reconciliations when you manually perform internal reconciliations. When needed, you can also cancel previous reconciliations. If you use cash discounts and want to include them in your reconciliations, you need to use the manual internal reconciliation type. You cannot use cash discounts for automatic internal reconciliations, semiautomatic internal reconciliations, and manual reconciliation across multiple business partners. Manually Performing Internal Reconciliations You can perform either partial or full manual reconciliations for specific business partner transactions, for transactions across multiple business partners, and for G/L accounts. When you manually reconcile transactions for a business partner, you can use cash discounts. Manually Reconciling Business Partner Transactions When you use the manual internal reconciliation function, SAP Business One displays all the open invoices, payments, credit memos, and journal entries associated with the particular business partner. As you select matching debits and credits, SAP Business One alters the display of the reconciliation difference the difference between the total debits and credits selected. Note that the reconciliation process is the same for both customers and vendors. When the reconciliation difference is zero, you can complete the reconciliation. SAP Business One clears the transactions, and they are no longer displayed as open transactions. You can also partially reconcile transactions by changing the amount to reconcile. Procedure 1. To access the Internal Reconciliation window in which you can manually reconcile the selected business partner transactions, use one of the following methods: Navigate from the SAP Business One Main Menu. i. From the SAP Business One Main Menu, choose Business Partners Internal Reconciliations Reconciliation. The BP Internal Reconciliation - Selection Criteria window appears. ii. Select the Manual radio button; in the Business Partner field specify the business partner you want to reconcile. If you want to reconcile transactions for two or more business partners, select the Multiple BPs checkbox and specify the business partners you want to reconcile. For more information, see Manually Reconciling Transactions Across Multiple Business Partners. SAP AG

11 iii. Choose the Reconcile button. Navigate from the business partner account balance. i. From the SAP Business One Main Menu, choose Business Partners Business Partner Master Data. ii. Browse to the relevant business partner and click next to the Account Balance field. The Account Balance - XXX, YYY window appears, where XXX is the business partner code and YYY is the business partner name. iii. Choose the Internal Reconciliation button. The Internal Reconciliation window appears for the selected business partner. SAP Business One displays all the open transactions for the business partner up to the reconciliation date, which by default is the system date. Open transactions include: Invoices Payments Credit memos Manual journal entries 2. Specify the reconciliation date. SAP AG

12 Only the open transactions with a posting date prior to the reconciliation date are displayed. 3. Review the following information and select the transactions you want to reconcile. As you select a transaction, SAP Business One automatically recalculates the reconciliation difference. Field/Button Description/Activity General Area BP Code of the business partner. Appears only when a single business partner was specified in the BP Internal Reconciliation - Selection Criteria window. You can select a different business partner, unless you accessed the Internal Reconciliation window from the business partner account balance. Reconciliation Currency Display LC-Only Transactions Reconciliation Date If the currency of the specified business partner or partners is Local Currency or All Currencies, the reconciliation currency is the local currency. If one of the foreign currencies was specified for the business partners, the reconciliation currency is that foreign currency. Select this checkbox to additionally display transactions that consist of amounts in local currency only. This option appears only when the reconciliation currency is foreign currency. Date on which reconciliation takes place. By default, the current date is displayed. Only open transactions with a posting date that is prior to the reconciliation date are displayed. You can change this date as needed. SAP Business One uses the reconciliation date when creating automatic journal entries to reflect exchange-rate differences, deferred or withholding tax, cash discounts, and do on. For more information, see Handling Exchange-Rate Differences, Underpayment and Overpayment Amounts, Withholding Tax, and Deferred Tax When Performing Internal Reconciliations. Table Area Selected Select the checkboxes for the transactions you want to reconcile. Alternatively, you can double-click the transaction row. Transaction No. Journal entry transaction number. To display the journal entry, click. By default, the Transaction No. field is not visible. To display this field, click (Form Settings). Origin Origin No. Posting Date Amount Document or transaction type that initiated the posting of each transaction. To display the document, click. For a complete list of origins, see Transaction Type Abbreviations Legend in the online help for SAP Business One. Number of the document that initiated the creation of the transaction; for example the number of the A/R invoice. Posting date of the transaction row. Original amount posted in the specific row of the transaction. This field is disabled. If the Display Credit Balance in Negative Sign checkbox is selected on the Basic Initialization tab in the Company Details window, a positive amount in the Amount field indicates a debit balance while a negative amount indicates a credit balance. SAP AG

13 Field/Button Balance Due Amount to Reconcile Withholding Tax Deferred Tax Adjustments Print Settings Description/Activity Unreconciled amount. If this amount is smaller than the value in the Amount field, it indicates this transaction has been partially reconciled internally. This field is disabled. If the Display Credit Balance in Negative Sign checkbox is selected on the Basic Initialization tab in the Company Details window, a positive amount in the Balance Due field indicates a debit balance while a negative amount indicates a credit balance. Specify the amount you want to reconcile for this transaction row. The amount to reconcile must be greater than zero and smaller or equal to the Balance Due amount. By default, Amount to Reconcile equals Balance Due. The bottom of this column displays the accumulated balance of the selected transactions. A zero amount indicates balanced reconciliation. If the amount is not zero, you cannot perform reconciliation. To resolve this impasse, see step 4. Withholding tax code for invoices and payments with withholding tax. If an invoice includes more than one withholding tax type, Multiple Withholding Tax Codes is displayed. By default, the Withholding Tax field is not visible. To display this field, click (Form Settings). Indicates an invoice or credit memo with deferred tax. By default, the Deferred Tax field is not visible. To display this field manually, click (Form Settings). Creates an adjustment if the amount at the bottom of the Amount to Reconcile column is not zero. For more information, see step 4 and Creating Adjustments. Opens the Internal Reconciliation Printing Preference window in which you can define your preferences for reconciliation printing. For more information, see Printing Reconciled and Unreconciled Transactions for Specific Business Partners or G/L Accounts. 4. If the amount at the bottom of the Amount to Reconcile column is not zero, do one of the following: For at least one of the transactions, change the amount in the Amount to Reconcile field. For each transaction, the amount in the Amount to Reconcile field cannot be greater than the Balance Due amount. Create an adjustment. For more information, see Creating Adjustments. 5. To perform the reconciliation, choose the Reconcile button. Result For both fully and partially reconciled transactions, the Balance Due is updated. In addition, fully reconciled transactions are closed and do not appear in aging reports and in other reports unless the aging report is backdated to run before the reconciliation date. Example See Performing Partial Manual Reconciliation for Business Partner Transactions. Manually Reconciling Business Partner Transactions with Cash Discount If you use cash discounts, and you manually reconcile a payment with an invoice, SAP Business One compares the payment date to the due date of the invoice. If the payment date is earlier than the due date, SAP AG

14 SAP Business One checks if the payer is entitled to a discount according to the payment terms appearing in the invoice with reference to the posting date of the payment selected for reconciliation. If a discount is warranted, SAP Business One updates the cash discount to which the business partner is entitled and the amount to reconcile. Once the reconciliation is completed, SAP Business One creates an appropriate journal entry that also reflects the cash discount. For more information, see How to Define Cash Discounts in Release 2007 A and 2007 B in the documentation area of SAP Business One Customer Portal at Prerequisites The business partner selected for reconciliation is entitled to a cash discount for at least one of its open invoices. Procedure 1. Open the Internal Reconciliation window for the relevant business partner. For information on accessing this window, see Manually Reconciling Business Partner Transactions. 2. In the BP Internal Reconciliation - Selection Criteria window, select the Manual radio button. In the Business Partner field, specify the business partner you want to reconcile. 3. Choose the Reconcile button. 4. In the Internal Reconciliation window, to select one or more open invoices, double-click the invoice row or select the checkbox in the Selected column. 5. Select one of the payments using the same method. Once you have selected the payment, SAP Business One automatically calculates the cash discount value and updates it in the Cash Discount Amount field for each invoice. By default, the Cash Discount Amount field is not visible. After you select a payment, if the calculated cash discount is not zero, the Cash Discount Amount field automatically appears. To display this field manually, click (Form Settings). SAP Business One cannot calculate the cash discount for more than one payment. Therefore, if you select more than one payment, the cash discount is set to zero. You can then change it manually. This applies also to the case when you do not reconcile an invoice with a payment. The cash discount calculated by default is based on the value in the Amount to Reconcile field. You can change the value in the Cash Discount Amount field. 6. To complete the reconciliation, choose the Reconcile button. The reconciliation can be completed only if the total value in the Amount to Reconcile column is zero. Example See Performing Manual Reconciliation for Business Partner Transactions Using Cash Discount. Manually Reconciling Transactions Across Multiple Business Partners You can reconcile transactions for two or more business partners. This feature is useful if some of your customers and vendors have multiple accounts with your company. For example, if a specific business partner is a customer as well as a vendor and therefore has two different accounts, you can reconcile A/R invoices with A/P invoices of those accounts. In this way you can transfer amounts from one business partner account to another. Prerequisites All the business partners you want to reconcile together must use the same currency. Business partners for which all currencies are applicable (multicurrency business partners) also fulfill this prerequisite. SAP AG

15 Procedure The reconciliation currency for multicurrency business partners is the local currency. Therefore, you cannot reconcile business partners using foreign currency together with multicurrency business partners. 1. From the SAP Business One Main Menu, choose Business Partners Internal Reconciliations Reconciliation. The BP Internal Reconciliation - Selection Criteria window appears. 2. Select the Manual radio button and the Multiple BPs checkbox. A table of business partners is displayed. 3. In the BP Code field, specify the business partners you want to reconcile. All the specified business partners must use the same currency. For each business partner you specify, the following information is displayed: Field BP Name BP Currency Balance Due (LC) Balance Due (FC) Description Name of the business partner. Code of the currency assigned to the business partner. The ## sign indicates that the All Currencies option is assigned as the currency of the business partner. Current balance of the business partner in the local currency. A positive amount indicates a credit balance, and a negative amount indicates a debit balance. Current balance of the business partner in the foreign currency. A value appears in this field only if a specific foreign currency was assigned to the business partner. If the currency of the business partner is either the local currency or All Currencies, this field is empty. A positive amount indicates a credit balance, and a negative amount indicates debit balance. If the Display Credit Balance in Negative Sign checkbox is selected on the Basic Initialization tab in the Company Details window, a positive amount in the Balance Due (LC) or in the Balance Due (FC) field indicates a debit balance while a negative amount indicates a credit balance. SAP AG

16 4. Choose the Reconcile button. The Internal Reconciliation window appears. SAP Business One displays all the open transactions for all the specified business partners. When you select multiple business partners in the selection criteria, the business partner code and name do not appear in the top-left corner of the window. To display the business partners codes and names in the table of open transactions, click (Form Settings). 5. Select the transactions you want to reconcile and choose the Reconcile button. For more information, see Manually Reconciling Business Partner Transactions. Result For both fully and partially reconciled transactions, the Balance Due is updated. In addition, fully reconciled transactions are closed and do not appear in aging reports and in other reports unless the report is backdated to run before the reconciliation date. If you reconcile transactions across multiple business partners, SAP Business One transfers the amounts from each business partner account to the other business partner or partners and updates the balances. As a result, an automatic journal entry with transaction type JR in the Origin field is created. This journal entry reflects those transfers. All the business partners and the amounts from the reconciled transactions appear in this journal entry, but on the opposite side (debit or credit), allowing SAP Business One to balance those amounts for each business partner account separately. Example See Performing Manual Reconciliation Across Multiple Business Partners. Manually Reconciling G/L Accounts During some business processes, related debit and credit transactions are posted to the same G/L account. The business process is completed only when the account has both a debit and a credit posting. During internal reconciliation you match pairs of debits and credits within the account. Sometimes unmatched transactions can indicate an incomplete business process or even an incorrect posting. For some accounts, incomplete processes could lead to more difficult and complicated asset or liabilities reporting. For information about performing an internal reconciliation for a subledger account linked to a control account, see Manually Reconciling Business Partner Transactions. SAP AG

17 Procedure 1. To access the Internal Reconciliation window in which you can manually reconcile the selected business partner transactions, use one of the following methods: Navigate from the SAP Business One Main Menu. i. From the SAP Business One Main Menu, choose Financials Internal Reconciliations Reconciliation. The G/L Internal Reconciliation - Selection Criteria window appears. ii. iii. Select the Manual radio button; in the G/L Account field specify the G/L account you want to reconcile. Choose the Reconcile button. Navigate from the relevant G/L account balance window. i. From the SAP Business One Main Menu, choose Financials Chart of Accounts. ii. Select the relevant G/L account and click next to the Balance field. The Account Balance - XXX, YYY window appears, where XXX is the G/L account code and YYY is the G/L account name. iii. Choose the Internal Reconciliation button. SAP AG

18 The Internal Reconciliation window displays all the open unreconciled transactions for the selected G/L account up to the reconciliation date, which by default is the system date. 2. Specify the reconciliation date. Only the open transactions with a posting date prior to the reconciliation date are displayed. 3. Review the following information and select the transactions you want to reconcile. As you select a transaction, SAP Business One automatically recalculates the reconciliation difference. Field Description/Activity General Area G/L Account G/L account code. You can select a different G/L account, unless you accessed the Internal Reconciliation window from the account balance of the G/L account. Reconciliation Currency Display LC-Only Transactions If the currency of the specified G/L account is Local Currency or All Currencies, the reconciliation currency is the local currency. Internal reconciliations for G/L accounts are always done in the local currency. Therefore, if you reconcile an account that is set as foreign currency, a journal entry is posted if an exchange-rate gain or loss occurs. For more information, see Handling Exchange-Rate Differences. Enables you to additionally display transactions that consist of amounts in local currency only. This option appears only when the reconciliation currency is foreign currency. SAP AG

19 Field Reconciliation Date Description/Activity Date on which reconciliation takes place. By default, the current date is displayed. Only open transactions with a posting date that is prior to the reconciliation date are displayed. You can change this date as needed. SAP Business One uses the reconciliation date when creating automatic journal entries to reflect exchange-rate differences, deferred or withholding tax, cash discounts, and so on. For more information, see Handling Exchange-Rate Differences, Underpayment and Overpayment Amounts, Withholding Tax, and Deferred Tax When Performing Internal Reconciliations. The fields in the table area for the manual reconciliation of a G/L account are that same as those for the manual reconciliation of a business partner. For field description of table-area fields, see Manually Reconciling Business Partner Transactions. 4. If the reconciliation difference is not zero, do one of the following: For at least one of the transactions, change the amount in the Amount to Reconcile field. For each transaction, the amount in the Amount to Reconcile field cannot be greater than the Balance Due amount. Create an adjustment by choosing the Adjustments button. The Journal Entry window appears so you can create a manual journal entry to an offsetting account. Once you add the journal entry, it is automatically added to the table in the Internal Reconciliation window and it is selected. 5. To perform the reconciliation, choose the Reconcile button. Result The fully reconciled transactions are closed and do not appear in aging reports and other reports. For partially reconciled transactions, the Balance Due is updated. Example See Performing Manual Reconciliation for G/L Accounts Using an Adjustment. Creating Adjustments If during the manual internal reconciliation process for a G/L account or for single or multiple business partners the reconciliation difference is not zero, you can either change the amount to reconcile or create an adjustment. 1. Open the Internal Reconciliation window for the relevant business partner. For information on accessing this window, see Manually Reconciling Business Partner Transactions. 2. Select the transactions you want to reconcile and choose the Adjustments button. SAP AG

20 The Adjustments window appears. If you reconcile a G/L account, the only adjustment you can create is a manual journal entry. When you reconcile a G/L account and choose the Adjustments button, the Journal Entry window appears so you create a manual journal entry to an offsetting account. For more information, see step 4 in Manually Reconciling G/L Accounts. 3. To create an adjustment to balance the reconciliation difference for the business partner, select one of the following options: Create Journal Entry Create a manual journal entry to an offsetting account. Once you add the journal entry, it is added automatically to the table in the Internal Reconciliation window, and it is selected. Add Incoming Payment Create an incoming payment for the business partner. Add Outgoing Payment Create an outgoing payment for the business partner. Once you choose the OK button, the relevant window appears. Complete the transaction and choose the Add button. For more information, see the online help for SAP Business One. 4. To perform the reconciliation, choose the Reconcile button. Automatically Performing Internal Reconciliations You can perform automatic reconciliations when you need to reconcile a large number of transactions, or when you need to reconcile a range of business partners or G/L accounts. The process for automatically reconciling business partners transactions or automatically reconciling G/L accounts is very similar. When you perform automatic reconciliations, SAP Business One fully reconciles pairs of transactions. The reconciliation is performed separately for each business partner or G/L account successively. If you allow automatic reconciliations with differences, SAP Business One posts any differences found to the automatic reconciliation difference account. Prerequisites To perform automatic reconciliations with reconciliation differences, you have defined the automatic reconciliation differences account. For more information, see Preparing to Perform Automatic Reconciliations. Procedure 1. Open the selection criteria window for internal reconciliations: To automatically reconcile business partners, from the SAP Business One Main Menu, choose Business Partners Internal Reconciliations Reconciliation. To automatically reconcile G/L accounts, from the SAP Business One Main Menu, choose Financials Internal Reconciliations Reconciliation. The BP Internal Reconciliation - Selection Criteria window or the G/L Internal Reconciliation - Selection Criteria window appears. SAP AG

21 The G/L Internal Reconciliation - Selection Criteria window is identical, except the G/L Account field replaces the Business Partner field. SAP AG

22 2. Select the Automatic radio button and specify the following information: Field Business Partner From To G/L Account From To Matching Rule 1, 2, 3 Description/Activity Range of business partner or G/L account codes you want to reconcile. Matching rules that, when fulfilled, are the basis for automatic reconciliation. You can create up to three matching rules. Each rule must be based on a different parameter, so you cannot, for example, create two rules that refer to posting date. Select the following parameters as matching rules: Posting Date Due Date Document Date Ref. 1, 2, 3 Project Code Control Account Code Posting Period If you select one of the first three parameters above, a Variation in Days field appears next to the matching-rule field. Specify the number of days used to consider the difference below which reconciliation takes place. When left empty, this field is considered to have a value of zero. EXAMPLE You selected Due Date as a matching rule and specified the Variation in Days as 3. The due date of an invoice is October 1, 2009, and there is a payment for the exact amount with the posting date of October 6, The difference is five days. In this case reconciliation does not take place. If you do not specify any matching rules, reconciliation is based on amount matching only. Reconciliation Difference Enables the reconciliation of pairs of transactions with nonidentical amounts. Specify the difference amount that should be considered when automatic reconciliation is performed. Differences found during reconciliation are posted to the automatic reconciliation difference account. For more information, see Preparing to Perform Automatic Reconciliations. 3. To perform the automatic reconciliation, choose the Reconcile button. Result SAP Business One automatically reconciles pairs of transactions that fulfill the specified matching rules for the range of business partners or G/L accounts. Semiautomatically Performing Internal Reconciliations You can perform semiautomatic reconciliations for business partner transactions and for G/L accounts. The reconciliation is done manually, based on recommendations provided by SAP Business One. The process for semiautomatically reconciling business partner transactions or semiautomatically reconciling G/L accounts is very similar. SAP AG

23 Procedure 1. Open the selection criteria window for internal reconciliations: To semiautomatically reconcile business partners, from the SAP Business One Main Menu, choose Business Partners Internal Reconciliations Reconciliation. To semiautomatically reconcile G/L accounts, from the SAP Business One Main Menu, choose Financials Internal Reconciliations Reconciliation. The BP Internal Reconciliation - Selection Criteria window or the G/L Internal Reconciliation - Selection Criteria window appears. The G/L Internal Reconciliation - Selection Criteria window is identical, except the G/L Account field replaces the Business Partner field. 2. Select the Semi-Automatic radio button; in the Business Partner or G/L Account field specify the business partner or the G/L account you want to reconcile. SAP AG

24 In addition, you can define and prioritize parameters to be considered when SAP Business One generates reconciliation recommendations: Field Parameters Description/Activity SAP Business One can take into account certain parameters when preparing reconciliation recommendations. You can define the following parameters: Amount Enables SAP Business One to include transactions with different amounts in the reconciliation recommendations. See also the Max. Deviation field. Priority Weighting Max. Deviation This parameter influences the recommendation results only. If you choose to reconcile transactions with an amount difference (based on the recommendations), you must create the respective balancing transaction to complete the reconciliation. Date Select the date on which the reconciliation recommendations should be based: posting date, due date, or the document date. See the also Max. Deviation field. Reference Select the reference according to which you want the reconciliation recommendations to be made. Determines the priority order in which each parameter is used by SAP Business One when ranking the generated recommendations. Specify the weighting to each parameter: High, Medium, Low, or Skip. If you select Skip, SAP Business One ignores the parameter when it is generating the reconciliation recommendations. For more information, see Appendix: Rank Calculation in Reconciliation Recommendations. Specify the maximum deviation SAP Business One should consider when generating the reconciliation recommendations for the following parameters: Amount Specify the maximum difference between transaction amounts above which SAP Business One will not recommend reconciliation. If you do not specify an amount, SAP Business One includes transactions with no amount differences in the reconciliation recommendations. Date Specify the difference in number of days between the dates assigned to the transactions above which SAP Business One will not recommend reconciliation. If you selected to consider this parameter and you do not specify any value, SAP Business One includes transactions with no date differences in the reconciliation recommendations. 3. To generate the reconciliation recommendations, choose the Reconcile button. SAP AG

25 The Reconciliation window appears. In the Open Transactions on Debit Side and in the Open Transactions on Credit Side tables, SAP Business One displays the list of transactions with unreconciled amounts greater than zero. 4. View the displayed information for each transaction: Field Description General Area BP or G/L Account Reconciliation Currency Business partner or G/L account code for which the reconciliation is performed. Currency of the reconciliation. This depends on the currency defined for the selected business partner or G/L account. If the currency assigned to the selected business partner or G/L account is All Currencies, the local currency is displayed; the reconciliation is performed in the local currency. Table Area Trans. No. Posting Date or Due Date or Document Date Ref. 1 or Ref. 2 or Ref. 3 Balance Due Journal entry number as it appears in the Trans. No. field in the Journal Entry window. To open the journal entry, click. Posting date, due date, or document date of the transaction row, depending on which value you specified in the selection criteria window. Reference 1, 2, or 3, of the transaction row, depending on the reference specified in the selection criteria window. Amount to be reconciled. If the transaction was partially reconciled previously, this amount is smaller than the original amount posted in the transaction. To perform manual reconciliations not based on the recommendations, choose the Manual button. The Internal Reconciliation window appears. For more information, see Manually Reconciling Business Partner Transactions. 5. To see a list of recommended reconciliations for a transaction, double-click that transaction row. SAP AG

26 The Reconciliation Recommendations window appears. SAP Business One displays the selected transaction and below it a separate list of reconciliation recommendations for the selected transaction, sorted in order of rank starting with the highest rank. The rank reflects the level of matching between the selected transaction and the proposed transactions. It is calculated according to the parameters and the priority weighting you specified in the Internal Reconciliation - Selection Criteria window. For more information, see Appendix: Rank Calculation in Reconciliation Recommendations. 6. To select a recommendation from the list of reconciliation recommendations, click once in the row of the desired recommendation. To perform the reconciliation, choose the Reconcile button. Result If you choose to reconcile transactions with an amount difference (based on the recommendations), the Journal Entry window appears, and you must create the respective balancing transaction to complete the reconciliation. If you decide not to reconcile the transaction that appears at the top of the window and instead want to display the next transaction in the Reconciliation window, choose the Skip button. SAP Business One then displays the next transaction at the top of the window. SAP Business One reconciles the selected transactions. Example See Performing Semiautomatic Internal or External Reconciliations. SAP AG

27 Managing Previous Internal Reconciliations You can view the history of all internal reconciliations performed for a specified range of business partners or G/L accounts. You can also cancel internal manual, automatic, and semiautomatic reconciliations. To reverse other reconciliation types, you must cancel the transaction that created the reconciliation. For a list of all reconciliation types, see step 3 in Viewing Internal Reconciliation History. EXAMPLE After you create a payment for an invoice, SAP Business One automatically reconciles the payment with the invoice. You must cancel the payment to reverse the reconciliation. When you cancel a specific transaction, SAP Business One automatically creates a reversal reconciliation between the canceled transaction and its other linked transactions. Viewing Internal Reconciliation History 1. To open the Manage Previous Internal Reconciliations - Selection Criteria window, use one of the following paths: From the SAP Business One Main Menu, choose Business Partners Internal Reconciliations Manage Previous Reconciliations. From the SAP Business One Main Menu, choose Financials Internal Reconciliations Manage Previous Reconciliations. 2. From the Previous Reconciliation for dropdown list, select to display previous reconciliations for business partners or for G/L accounts and specify the following selection criteria: Field G/L Acct/BP Code From To Date From To Reconciliation No. From To Description/Activity Range of business partners or G/L accounts, depending on your selection in the Previous Reconciliation for field. Range of dates to display reconciliations performed within this range. Range of numbers identifying the reconciliations SAP Business One should display. 3. Choose the OK button. SAP AG

28 The Manage Previous Internal Reconciliations window appears. The Manage Previous Internal Reconciliations window lists the previous internal reconciliations that match the selection criteria you specified in the Manage Previous Internal Reconciliations - Selection Criteria window. This window contains two tables: Reconciliation History Lists previous reconciliations. Reconciliation Details Lists the transaction rows associated with the selected reconciliation from the Reconciliation History table. View the following information displayed in both tables: Field Description Reconciliation History Recon. No. Recon. Amount Recon. Type Sequential reconciliation number assigned to the internal reconciliation by SAP Business One when the reconciliation took place. All reconciliations created by SAP Business One are assigned a unique application-wide reconciliation number irrespective of the type of the reconciliation and irrespective of business partners and G/L accounts. The numbering starts from 1 and continues sequentially for each subsequent reconciliation. Total amount of the reconciliation. Type of reconciliation, based on whether the reconciliation is a result of document creation or user initiation: Automatic Reconciliation was performed by selecting the Automatic option in the BP Internal Reconciliation - Selection Criteria or in the G/L Internal Reconciliation - Selection Criteria window. Bank Statement Processing Reconciliation was performed by bank-statement processing functionality according to user-defined matching rules. For more SAP AG

29 Field Recon. Rule 1, 2, 3 Reconciliation Date Description information about external reconciliations in bank statement processing, see the online help for SAP Business One and How to Use Bank Statement Processing in Release 2007 in the documentation area of SAP Business One Customer Portal at BoE Reconciliation was performed by the bill of exchange functionality. For more information about bills of exchange, see the online help for SAP Business One and How to Manage Bills of Exchange in 2007 A and in 2007 B in the documentation area of SAP Business One Customer Portal at Cancellation Reconciliation was canceled by using the Cancel Reconciliation button in this window. Credit Memo Reconciliation is the result of copying an A/P or A/R invoice to an A/P or A/R credit memo. Deposit Reconciliation is the result of creating a deposit for checks, cash, credit card vouchers, or bills of exchange. Manual Reconciliation was performed manually. Payment Reconciliation is the result of creating an incoming or outgoing payment for specific documents or transactions. Period Closing Reconciliation was performed automatically when a period-end closing adjustment was created at the end of the year or the period. Reversal Reconciliation is the result of canceling the following documents: Journal entries Incoming and outgoing payments Deposits Check for payments Semi-Automatic Reconciliation was performed by selecting a transaction from the Reconciliation Recommendations window. Zero Value Reconciliation is the result of posting a zero-value invoice, credit memo, or journal entry. Reconciliation rules selected in the selection criteria for automatic and semiautomatic reconciliation types. Date on which reconciliation took place: For manual reconciliation, this is the date specified in the Reconciliation Date field in the Internal Reconciliation window. For reconciliations resulting from document creation (payments, credit memos), the reconciliation date is the latest posting date of all SAP AG

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