Month-End Book Closing Process

How to Acknowledge Discrepancies in the Reconciliation Process

In our continuous efforts to enhance the accuracy and usability of our system, we've introduced a new feature that lets users acknowledge and address discrepancies between expected and actual values during reconciliation. Below is a step-by-step guide on how to use this new feature:

1. Spotting the Acknowledge Button

When you are in the reconciliation interface, next to the 'Difference' label, you'll see a new 'Acknowledge' button. This button becomes active when there's a non-zero difference between expected and actual values.

2. Clicking the Acknowledge Button

A confirmation dialog box will appear after clicking the 'Acknowledge' button. This dialog will display the difference amount prominently.
Screenshot 2023-07-13 at 12.05.28 PM

3. Entering Notes

Before you can confirm the acknowledgment, it's mandatory to enter notes. This helps to record the reason or context of the discrepancy for future reference.

4. Confirming the Acknowledgment

Once you've entered the required notes, you can confirm the acknowledgment. Upon confirmation, the dialog box will close, and the color of the 'Acknowledge' button will change to green. This visual feedback confirms that the system has successfully recorded your acknowledgment.

5. The Unacknowledge Option

Mistakes happen! If you acknowledged a discrepancy but later want to reverse this action, you can use the 'Unacknowledge' option. Clicking this will erase the details like "acknowledged on" and "acknowledged by." After using the unacknowledge feature, the 'Acknowledge' button will return to its original state.

6. Final Reminders

Remember, if there's an unacknowledged non-zero difference, you won't be able to reconcile the month. Ensure all discrepancies are acknowledged to complete the reconciliation process.