Reconciliations Ledger Doctor does for you
Part of the Close plan.
Nothing to reconcile
These are signed off automatically, with the reason shown, as long as nobody has entered anything on them:
- Zero balance at period end, with no reconciling items.
- No activity and the same balance as the last reconciliation, which tied and was reviewed. The reason names that reconciliation and who reviewed it.
Low-risk accounts that certify themselves
An approver can set an amount under an account's How often and who. In a period when the balance and the activity are both within it, the account is Auto-certified, as long as a person reconciled it within the last 3 months. See Account reconciliations.
Control accounts that prepare themselves
For the AP, AR and Fixed Assets control accounts, Ledger Doctor fills in the supporting balance from the subledger as of the period end: the same figure as the tie-out. Its source reads "Ledger Doctor: …" so you know where it came from.
- If it ties to the cent and there are no reconciling items, it's marked prepared by "Ledger Doctor (from GP's subledger)". A person still reviews it.
- If it doesn't tie, it stays Not prepared with the subledger balance filled in. Add reconciling items, using the tie-out's reconciling items, and prepare it.
- Ledger Doctor never overwrites a supporting balance a person entered.
It fills in an AP or AR account only when the company has a single control account for it and the subledger can be rebuilt as of the period end. It fills in Fixed Assets when there's one book.