From typical centralized bank reconciliation efforts to distributed reconciliation needs across multiple data sources and business owners, users can easily ensure any set of records are properly matched and reconciled. Play Video Transcript Account reconciliation in CCH Tagetik refers to the process of ensuring that 2 sets of records are in agreement with each other, usually at the account level.
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Let's take a look at a very simple example of reconciliation, usually known as Bank Account Reconciliation. Directly from the main CCH Tagetik homepage users will be able to click on the account reconciliation tile where they will be brought into a very simple account reconciliation dashboard.
The middle section provides some useful indicators as to where we stand in the overall reconciliation process, together with some instructions to the right of the screen that provide guidelines to the users when it comes to the account reconciliation process.
By simply clicking any of this visual indicators the users will be brought into the actual account reconciliation process. In this case my GL statement will be adjusted and I can, at any point in time, declare my reconciliation as complete, as soon as I feel confident with my numbers.
The last step is to actually compare the adjusted sub-ledger Bank video demo account America statement with the adjusted accounting GL balance and in case post any kind of journal to reconcile the 2 statements using the CCH Tagetik journal entry capabilities.