NetClose - Reconciliation Items
Reconciliation Items are attached to reconciliations that have been generated for specific periods. Items are added to explain the "Unexplained Balance" of the reconciliation. The sum of the items on a reconciliation is what totals the "Explained Balance". There is no limit to the number of reconciliation items that can be attached to a reconciliation. Items can be added manually on the Items subtab, or by excel upload under the Items Upload subtab.
Prerequisites
The reconciliations must be generated to add items.
Step by Step
Navigate to NetClose > Reconciliations > Prepare Reconciliations. Click the name of the applicable reconciliation. You can view the details of the GL Beginning Balance, Debit Activity, Credit Activity, and GL Ending Balance. You can then see the "Unexplained Balance" that will need to be explained with reconciliation items.
Manually Adding a Reconciliation Item
Click the "New Item" Button under the Items subtab. Name the item, list the amount, any applicable notes, if you would like the item to be carried forward to the next period, and what type of item it is on the drop down list.
Click the green check to complete, or the red X to delete the item line.
You can edit already submitted items by clicking the pencil icon next to the reconciliation item.
Reconciliation Items from NetSuite Transactions
NetClose can automatically create reconciliation items from NetSuite transactions. To learn more visit this article.
Item Upload
Rather than uploading the reconciliations manually, you can upload an excel file with the data. Click on the "Item Upload" subtab. You can drag and drop an already created excel file to this location. NetClose will create a reconciliation item based on the amount on the excel sheet with "NETCLOSE_TOTAL>" to the left or "<NETCLOSE_TOTAL" to the right of the cell containing the reconciliation item amount.
Example of an Excel document using the "<NetClose_Total" function.
When you drag and drop the file, a popup will appear to confirm the total reconciliation item you are adding.
After confirming the amount, it will be added under the Items tab as a reconciliation item explained balance item.
After the upload is complete, the Excel file can be viewed again by clicking the download icon in the reconciliation item's row.
Reconciliation records can only be edited when the status is not set to "Completed" or "Auto-reconciled." Therefore, reconciling items can only be added when a reconciliation is not in the "Completed" or "Auto-reconcilied" status.
Reconciliation Item Age
When the Recon Item Age Columns setting is enabled in the System Setup, then the Item Date and Age columns will appear in the Items table. By default, when an Item is created, the Item Date will be set to the last date of the Reconciliation's Accounting Period. A user can then edit the item to override that Item Date. The Item Age is shown in days and will be recalculated when the Item Date changes. If an item is marked as a Carry Forward Item, then when the Item is created in the next period's Reconciliation, it will Carry Forward the initial Item Date as well.
The Item Date can also be carried forward from period to period when using the SharePoint/Google Drive Document Management connection. NetClose will know to carry the Item Date forward when an Item is created from one Reconciliation Period to another, if after the item description the next cell is a unique key that stays the same. In the screenshot below as long as the values in the column labelled Unique Item ID are the same from period to period then the initial Item Age will carry forward to each new Reconciliation Item table. The Unique Item ID can be any alphanumeric combination including spaces or special characters and users do not need to include a column header called "Unique Item ID."