NetClose - Reconciliation Data Validation
Overview
After your Reconciliations template has been uploaded into NetClose, the next step in the implementation process is to review and validate your reconciliation data. The following are recommended steps to validate your reconciliation data.
Validate Account Groupings
Navigation: NetClose > Setup > Account Groupings & Rules
By default, this list will show all account groupings, including child groupings if applicable. To adjust your view, select from the dropdown here:
It is recommended to review the following:
- Account Grouping Names
- Preparers and Reviewers
- Due Dates
- Frequency
- Segregate by Subsidiary
- Segregate by Account
- Any other fields, as desired
To see additional fields not shown by default, go to Edit View.
Then, under the Results tab, add any additional fields you'd like to review and Save.
Validate Child Groupings
If applicable, validate Child Groupings by changing your list view to Child Groupings Only.
Additionally, child groupings can be viewed from the parent grouping record by selecting the Children subtab.
Validate Account Mappings
Navigation: In your global search bar, type in the following saved search: "NetClose | Account Grouping COA Breakdown"
Here, you'll find a list of all accounts in your Chart of Accounts and the NetClose Account Groupings they are mapped to.
To make any adjustments, select Edit on the account record and change the selection for NetClose Account Grouping.
Validate Generated Reconciliations
Prerequisite: Reconciliations must be generated for a specific period.
Once generated, navigate to NetClose > Reconciliations > All Reconciliations
It is recommended to review these at a high-level prior to the Reconciliations Training call.