General Ledger & Intercompany

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    Ryan Tilles
    Natural Account "Reconcile" flag
    Topic posted March 21, 2017 by Ryan TillesGreen Ribbon: 100+ Points, last edited January 30, 2019, tagged Financials, General Ledger, Setup / Administration 
    364 Views, 11 Comments
    Natural Account "Reconcile" flag
    Is this the same as the "Reconciliation Flag" in EBS

    When setting up a natural account, there are a number of qualifiers (or attributes) such as "Allow Posting", "3rd Party Control Account", etc.


    I'm curious about the "Reconcile" yes/no attribute.

    Is this the same as the "Reconciliation Flag" in EBS, where it was specifically related to whether an account should net to zero (which was primarily used for VAT/tax control accounts)?

    Or is it related to the AR/AP to GL reconciliation reports/processes?



    • Linda Wong

      The "Reconcile" field currently has no functionality associated with it.  You can leave the field blank or accept the default value.  It has no impact.

      • Ryan Tilles

        Ah, interesting. Not the response I expected. Thanks.

        Then along those same lines - I'd always assumed that the Financial Category was similar.. that is has no currency functionality. But then I read somewhere recently that it drives the AR/AP to GL reconciliation process? In other words, if you don't flag your AP liability account with the "Accounts payable" financial category, it won't show up in the various automated recon processes. I haven't seen this to be true, but thought I'd ask regardless.

    • Linda Wong

      The Financial Category field does have impact on certain features.  The AR/AP to GL reconciliation reports only include natural account values that have 'accounts receivable' or 'accounts payable' selected for the Financial Category.  The Financial Category is also used by the BI Analytics (data warehouse analytics) applications for reporting.

    • Ryan Tilles

      Okay. Good info. Thanks again.

    • Alexey Shtrakhov

      As a continuation to the initial Ryan's question. Are there any plans to introduce this Reconcile functionality? I think this is quite a desired feature among accountants during the period close...

    • Reina van Ewijk

      Not sure about Fusion R12 however Journal Line Reconciliation (which was available in eBS R12) is not available in Fusion. And as I see that the Account Reconciliation Cloud is now available I think this functionality will not become available. Am browsing through the Account Reconciliation Cloud Setup Document but cannot find that this attribute is used by this tool.

      So it looks like a redundant field.


    • Linda Wong

      There are plans to provide clearing account reconciliation functionality in General Ledger in a future release.

    • Alexey Shtrakhov

      Hi Linda,

      Am I right that in R13 we will possibly have this feature already?

      Im referring to this feature in Release Readiness document: CLEARING ACCOUNTS RECONCILIATION

    • Linda Wong

      Yes, that's correct.

    • Alexey Shtrakhov

      Thanks! Great! We will wait for this feature!

      According to release readiness documentation it looks good!