Analysis of the reconciliation results is an important aspect of the process. In order to provide the appropriate tools to perform an analysis, the results are sent to an Excel spreadsheet. Excel provides the typical functionality of any spreadsheet, such as re-sorting the data, adding comments to the data, adding totals, etc.

 

FIGURE 16: RECONCILE SAMPLE REPORT

 

Save each spreadsheet to document how many exceptions were handled. For example, an exception on a Receivables Management transaction could be addressed through the entry of a journal entry in General Ledger. A comment could be added to the transaction, noting the action taken to fix the problem was the entry of a General Ledger transaction.