The classification of Votes according to the data with which they are carried out. There are internal and external reconciliations.
Reconciliation function in SAP Business One: A guide to ensuring financial accuracy
The reconciliation function in SAP Business One is a central tool for Correctness and Completeness of financial accounting. It enables the reconciliation of postings in SAP Business One with external documents, such as account statements, as well as the internal clearing of transactions for business partners or G/L accounts.
Types of voting
1. internal coordination
Internal reconciliation can take place in two ways:
- AutomaticIf the reference between the bookings is clear, the system carries out the reconciliation.
- ExampleA payment with an invoice reference is automatically assigned to the corresponding invoice.
- Manual: Manual reconciliation is required for payments on account or credit notes without a direct invoice reference.
Manual internal tuning: Steps
- Open of the business partner or G/L account for which the reconciliation is to be carried out.
- Activate checkbox: "Open items only" to facilitate the selection.
- Select function: "Internal reconciliation".
- Mark positionsthat are to be voted on.
- Press button: "Vote".
External voting
External reconciliation is usually carried out manually:
- Account statements are recorded in SAP Business One and linked to the corresponding Bank accounts compared.
Bank reconciliation report
- Of the Bank reconciliation report is available in some localisations (e.g. Australia, New Zealand, Canada, USA).
Additional notes
- Error correction: Both internal and external tunings can be reset if errors have occurred.
- RegularityRegular reconciliations help to recognise errors at an early stage and ensure data integrity.
- Version and localisationThe details of the reconciliation function may vary depending on the version and localisation of SAP Business One.
- The Versino Financial Suite for SAP Business One extends the standard functions with automated reconciliation, balance confirmations, netting and convenient reports that make data checking and reconciliation processes significantly more efficient and transparent.
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