Purpose of the reconcile process for the Financial series in Microsoft Dynamics GP

Article ID: 871653 - View products that this article applies to.
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INTRODUCTION

This article describes the function of the reconcile process. This also describes when the reconcile process should be performed in Microsoft Dynamics GP.

MORE INFORMATION

The reconcile process makes sure that the data is accurate by checking and by recalculating the data in each file. You must run the reconcile process after you change fiscal periods. To run the reconcile process for the Financial series, follow the appropriate step:
  • In Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Utilities, point to Financial, and then click Reconcile.
  • In Microsoft Dynamics GP 9.0 and in Microsoft Business Solutions - Great Plains 8.0, point to Utilities on the Tools menu, point to Financial, and then click Reconcile.
A report will print only if you run the Allocation Accounts reconcile process or the Batches reconcile process. If no errors are found, the report will print with the following message:
No errors found.
For allocation accounts, a separate Allocation Account Reconcile report will print. If no errors are found, the report will print with a zero for the total.

The Allocation Accounts reconcile process determines whether there are any errors in the allocation accounts. The Allocation Accounts reconcile process prints a report of what has to be fixed. The Account Master file, the Fixed Allocation Master file, and the Variable Allocation Master file are accessed.

The Year reconcile process reconciles the detail records of the Year-to-Date Transaction Open file for open years or of the Account Transaction History file for historical years. The Year reconcile process also updates the summary files, such as the Account Current Summary Master for open years or the Account Summary History for historical years. You will not receive a report after you run the Year reconcile process. However, if you reconcile an open year, the Account Current Summary Master file is updated based on what is in the detail records in the Year-to-Date Transaction Open file. If you reconcile a historical year, the Account Summary History file is updated based on what is in the detail records in the Account Transaction History file.

Consider the following scenario. The current calendar year is 1/1/07-12/31/07. You post a transaction that has the date of 12/15/07. Then, you change the fiscal period setup from a calendar year to a fiscal year. The fiscal year 2007 now runs from 1/1/07-11/30/07, and the new fiscal year, 2008, begins on 12/1/07. If a transaction is originally posted to the 2007 calendar year, after you run the reconcile process, the transaction appears as posted to the 2008 fiscal year.

If a batch exists in the Transaction Work file, the batch is checked to determine whether it exists in the Posting Definitions Master file. A batch is also checked to make sure that the number of transactions and the batch total in the Posting Definitions Master file are correct. Records can be added back, and the number of transactions and the batch total in the Posting Definitions Master file can also be adjusted.

Properties

Article ID: 871653 - Last Review: July 24, 2011 - Revision: 3.0
APPLIES TO
  • Microsoft Dynamics GP 2010
  • General Ledger, when used with:
    • Microsoft Dynamics GP 10.0
    • Microsoft Dynamics GP 9.0
    • Microsoft Business Solutions–Great Plains 8.0
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