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Performing External Reconciliations Locate this document in the navigation structure

 

You can perform external reconciliations manually, automatically, or semiautomatically (manually based on recommendations from SAP Business One) for bank and business partner accounts.

Recommendation Recommendation

Use a reconciliation type that meets your business needs, as follows:

  • Manual reconciliation is appropriate for a small number of transactions, cases where partial reconciliations are required, or when transactions are posted to more than one business partner or G/L account.

  • Automatic reconciliation is appropriate for a large number of transactions or a range of business partners or G/L accounts, based on user-defined parameters and priorities.

  • Semiautomatic reconciliation is appropriate when you want to process transactions manually based on recommendations provided by SAP Business One.

End of the recommendation.

For all localizations, you first record transactions from bank statements and then reconcile transactions either manually, automatically, and semiautomatically using the standard external reconciliation function.

For many localizations, you can verify transactions recorded in SAP Business One with the balance received from the bank and create adjustments, if required, using the manual reconciliation function. This process is relevant for Australia, Brazil, Canada, China, Cyprus, India, Japan, Korea, New Zealand, Singapore, South Africa, United Kingdom, and United States.