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All businesses will need to reconcile and validate the entries in their chart of accounts for tax or fiscal purposes. Account Reconciliation is used to verify the balances of each account as at a certain date. Usually a fiscal year is broken down into smaller periods (eg month, quarter etc) and a business would normally want to ensure that their accounts are validated and reconciled from one month to the next. This is extremely important for processing things such as VAT or GST.

Example: A company receives a bank statement detailing all the transactions for the month. Assume that the bank statement reflects all the sales and payments that have been processed in OFBiz.

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How do I create an Account Reconciliation?

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NOTE TO CHECK: Does it behave differently if the accounting transaction has not yet been posted....???

Example: To create an Account Reconciliation

1. Select the 'GL Account Id' for the general ledger account you want to reconcile from the drop down box
2. Press the 'Search' button
3. If any transactions exist for the account the list will be displayed (NOTE: This display doesnt show if the transaction was a debit or a credit - which could be a problem when reconciling as dont know whether it went in to the account or came out.....????)
4. Select the individual transactions to reconcile using the check boxes 
5. Press the 'Create Account Reconciliation' button
   
   
   

How do I update an Account Reconciliation?

To DoNOTE TO CHECK: Does it behave differently if the accounting transaction has not yet been posted....???

How do I delete an Account Reconciliation

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