GL Reconciliation

The GL Reconciliation page provides tools to reconcile GL account balances — ensuring that the ledger accurately reflects the underlying transactions.

Navigation: Accounting → Operations → GL Reconciliation

What Is GL Reconciliation?

GL reconciliation is the process of verifying that account balances in the general ledger match the supporting detail (sub-ledger balances, bank statements, third-party records). It helps identify:

• Missing transactions — Entries that should have been posted but weren't
• Duplicate entries — Transactions posted more than once
• Timing differences — Transactions recorded in different periods
• Errors — Incorrect amounts or account mispostings

Reconciliation Workflow

1. Select an account — Choose the GL account to reconcile
2. Set the period — Define the date range
3. Review transactions — View all journal lines posted to the account
4. Match entries — Match GL entries against external records (bank statements, sub-ledger totals)
5. Flag discrepancies — Mark unmatched or suspicious items
6. Resolve — Investigate and correct discrepancies with adjusting entries if needed

Reconciliation Types

Type	Description
Bank Reconciliation	Match GL bank account entries against bank statement lines
Sub-Ledger Reconciliation	Verify that the sum of sub-ledger balances equals the control account balance
Inter-Branch Reconciliation	Match inter-branch transfer entries between business units
Suspense Account Clearing	Identify and clear items in suspense accounts

Best Practices

1. Reconcile regularly — Perform reconciliation monthly at minimum, daily for high-volume accounts
2. Investigate promptly — Don't carry unresolved items across periods
3. Document findings — Add notes to explain any discrepancies and their resolution
4. Segregate duties — The person reconciling should not be the same person posting entries

Next Steps

• Financial Reports — Generate trial balance, balance sheet, P&L