SAP Business One 9.0 Internal Reconciliation

Internal Reconciliation in SAP Business One

As a part of the bookkeeping process, internal reconciliation is about matching and clearing transactions for business partners or for G/L accounts. In SAP Business One 9.0, part of the internal reconciliation process is done automatically by the application, and part of it can be done manually.

 

Most of the time, internal reconciliation takes place automatically, for example, when you create incoming or outgoing payments linked to invoices. In this case, SAP Business One automatically reconciles payments with the linked invoices. However, a standalone transaction, such as a payment on account, is unable to be automatically reconciled, as SAP Business One cannot know to which open invoices the payment relates. Therefore, you need to decide to which invoice the payment is to be applied and perform the reconciliation manually.

 

For both the automatic system reconciliations and the manually performed reconciliations, SAP Business One enables you to view the reconciliation details, and if necessary, cancel previous reconciliations in some cases.

 

Automatic System Reconciliation in SAP Business One

In SAP Business One, automatic system reconciliation applies in various scenarios where it is possible to match the debit and credit postings of certain transactions, or where manual reconciliation is difficult to carry out.

 

The automatic system reconciliation can be full or partial depending on the different cases. It facilitates the internal reconciliation and the auditing processes.

 

Reconciliation in SAP Business One

Use this function to internally reconcile transactions posted to business partners. You can perform either partial or full reconciliation, for specific business partner or for multiple business partners. Choose the appropriate reconciliation type for the amount of transactions to be reconciled, while referring to whether partial reconciliation or reconciliation of multiple business partners is required.

 

To access this function, choose Business Partners ->Internal Reconciliations-> Reconciliation.

 

Manage previous reconciliations in SAP Business One

This function enables you to display, cancel and recreate external or internal reconciliations created for a specified range of business partners or G/L accounts. This function does not deal with reconciliations created by SAP Business One.

 

To manage previous reconciliations, choose  Banking -> Bank Statements and Reconciliations -> Manage Previous Reconciliations.