Reconciliation Summary - Accounting

The reconciliation summary allows you to view, on a single page, the status of all your bank accounts at an accounting level across all your companies. Check it in a consolidated view, or filter by the specific product or company you want to see. Set time ranges to analyze your bank and accounting balances in detail, speeding up your closing processes.

1. Access the Reconciliation Summary section from the top-right button on the main page of the Accounting – Bank Statements module.

   
   
   
   
   
   
   
    

2. By default, you will see the balances of the companies selected in the main company selector. Deselect those you’re not interested in to display only the companies you want to review.
   
   
   

   
    

3. Once done, you can filter by bank product and by date range. By default, the summary will show information from the beginning of the year up to the current day.
   
   
   Review the four main information columns:
   
   Opening Balance: Refers to the bank and accounting balance at the start of the selected period. In other words, the balance the bank account had at the beginning of that day.

Important: when you first set up a product in accounting, that start date will be used to calculate the base accounting balance.

• Bank Balance: The bank account balance at the start of the day within the selected range.

• Accounting Balance: The sum of accounting entries at the start of the selected period, based on the initial bank balance set when the product was first configured in accounting.
  
  (All balances are shown in the currency of the bank product, and currently the tool only considers accounting entries in that same currency.)
  
  Reconciled: Transactions and entries that have already been reconciled within the selected period and therefore appear in the Embat reconciliation history. For transactions, the reference date is the operation date; for accounting entries, it is the entry creation date.

  
   

  

  
  Pending Reconciliation: Includes transactions not yet accounted for or awaiting reconciliation, as well as accounting entries pending reconciliation. The number in parentheses indicates the count of transactions or entries, and the figure shows the total amount. You can click on each cell to navigate to the corresponding page filtered by that number of items.

  
   

Closing Balance: Refers to the bank and accounting balance at the end of the selected period. This is a key metric to detect whether the bank product is reconciled, since ideally the bank and accounting balances should match if all reconciliations are up to date.
 

• Bank Balance: Bank balance at the end of the period.

• Accounting Balance: The sum of the initial bank balance (when the product was set up in accounting) plus all reconciled accounting entries up to the end of the selected range.
  
   

  

   

If you have any further questions, please contact the Customer Experience team or submit a request via this link.