What’s new

This page lists the new features or enhancements per Account Reconciliation update.

2025

2025.6.1

July 2025

Multi-currency support

This release introduces multi-currency support across the application, improving visibility and control over currency conversion throughout the reconciliation process.

In the Settings menu, a new Currency tab allows Admins to manually configure exchange rates with validations to ensure accuracy. For more information on adding currencies and conversion rates, refer to the Currency article.

Additional display currencies

Additional display currencies have been added to present financial values in reports and other views within the application.

Country /Currency Symbol
Australian Dollar (AUD) $
Brazilian Real (BRL) R$
Chinese Yuan (CNY) ¥
Czech Koruna (CZK) Kč
Danish Krone (DKK) kr
Hong Kong Dollar (HKD) HK$
Indian Rupee (INR) ₹
Mexican Peso (MXN) $
New Taiwan Dollar (TWD) $
New Zealand Dollar (NZD) $
Norwegian Krone (NOK) kr
South African Rand (ZAR) R
South Korean Won (KRW) ₩
Thai Baht (THB) ฿

Display currency is the currency in which data is shown to users. It does not affect the underlying data values but provides a consistent currency view across pages or reports, especially when working with multiple currencies. For example, if value is entered in CAD, but your display currency is set to USD, the system will convert and show those values in USD, using the applicable exchange rate.

Rejection reasons for tasks

Approvers are now prompted to enter a reason when rejecting a task. If a reason is provided, it appears as a note on the task, labeled Reason for rejection.

  • Email notifications now reflect the task's REJECTED status in the task grid.

  • In task lists, rejected tasks are clearly labeled as REJECTED for all users who have access to view the task.

For more information on rejecting tasks, refer to the Reject a task section of the Reconcile accounts article.

Reorder tasks within an Account type

Admins and Global Admins can now easily reorder AR and To Do tasks within an Account Type roll-up when editing a workflow. This helps to keep workflows organized and aligned with team priorities.

  • To reorder tasks, simply drag and drop them in the list. A visual indicator shows the task’s new position, and a confirmation message appears once the order is updated.

 Caution:  There is no undo for this action.

  • After reordering tasks in the workflow using drag and drop, all users (Users, Admins, and Global Admins) will see the tasks appear in the same updated order when viewing them in To Do Overview, AR Overview, or My Tasks.

For more information, refer to the Reorder tasks within an Account type roll-up and Reorder tasks in an import file sections of the Add and manage workflow tasks article.

Set predecessor tasks via workflow task import file

This feature is available for Global Admins and Admins only and applies to both AR tasks and To Do tasks.

Admins can now define predecessor tasks directly within the import workflow for AR and To Do tasks.

  • When downloading the workflow sample import file (CSV format), a new column includes existing predecessor tasks for reference.

  • To set a predecessor, enter the exact name of the task (AR or To Do) in the corresponding column.

  • If the entered task name does not match an existing task exactly, the import will return a validation error.

Sort and filter unreconciled transactions

Users can now use the column header filters to sort unreconciled transactions in ascending or descending order, and to filter by date (start and end), or apply other custom filters .

Error log

Global Admins can now access a comprehensive Error Log that captures all user errors across the system. To view it, go to Settings > System Log > Error Log tab.

2025.5.1

June 2025

Automated reconciliation schedule

This release introduces Automated Reconciliation Schedules, allowing users to automate and manage recurring reconciliation entries for specific accounts:

Matching reasons made clearer

The reasons for transaction matches made by Prophix One Intelligence Matching now appear in plain, easy-to-understand language. Match reason appears on both the Reconciled transactions the Match details pages.

Enhanced role assignment validation

When assigning a User or Administrator role, the system now triggers a validation to ensure the user is assigned to at least one entity. If a license is assigned, a notification prompts the user to update their Entity access.

For more information on assigning and changing user roles, refer to the Manage user roles and permissions article.

2025.4.2

June 2025

This release includes resolved issues only. For details, refer to the Account Reconciliations 2025.4.2 Release notes.

2025.4.1

May 2025

Prophix One Intelligence Knowledge Assistant

Prophix One Intelligence now adds Knowledge Assistant for Account Reconciliation.

To access Prophix One Intelligence and Knowledge Assistant, click the icon at the top-right corner:

 Note:  Knowledge Assistant does not share any information from your other Prophix One applications.

Matching logic made clearer

The reasons for transaction matches made by Prophix One Intelligence Matching now appear in plain, easy-to-understand language.

Matching engine ignores empty values

The matching engine no longer matches empty values. Now in order to perform valid Transaction Matching, only a single ‘Custom’ string field is required for each source.

2025.3.0

April 2025

Transaction matching

This release introduces Transaction Matching, a new feature that streamlines the reconciliation process by comparing transactions from different data sources to identify and resolve discrepancies.

With Transaction Matching, users can load transactions from two sources — such as General Ledger (GL) balances and bank statements — and the system automatically performs reconciliation using Prophix One Intelligence, based on predefined matching rules.

 Note:  This release supports transaction imports in .CSV file format only.

2025.2.2

March 2025

Display of last refresh date and time for GL Balances

The date and time of the last refresh for GL balances are now displayed on the Account Reconciliation Details page for each task.

New import options for Chart of Accounts

Users can now choose between two import options for the Chart of Accounts:

  • Add to and update existing – Adds new accounts from the imported file and updates existing ones. (No deletions occur.)

  • Overwrite – Deletes all existing accounts before replacing them with the new imported file.

The import process includes important safeguards to ensure data accuracy and prevent accidental loss:

  • Warning confirmation for Overwrite – Users will now see a confirmation message before proceeding with an overwrite to prevent accidental data loss.

  • Preservation of account relationships – If an existing account code is still present in the imported file, its relationships (e.g., trial balances, workflow tasks) remain intact.

  • Automatic cleanup for deleted accounts – If an account does not exist in the import file, the system will automatically remove associated data.

2025.1.4

March 2025

This release includes resolved issues only. For details, refer to the Account Reconciliations 2025.1.4 Release notes.

2025.1.2

March 2025

This release includes resolved issues only. For details, refer to the Account Reconciliations 2025.1.2 Release notes.

2025.1.0

February 2025

Account groups

With Account Groups, users can group multiple accounts together for reconciliation, eliminating the need to reconcile each account separately. An Account Group has all the same properties as an individual account with one key difference: the Accounts field, which lists the accounts that make up the group. For details, refer to Account groups.

  • In the Trial Balance grid, an account group is displayed under its corresponding account type (e.g., Prepaid Assets). All accounts within the account group, along with their balances, appear under this account type. The account group total (e.g., Prepaid Assets) represents the sum of all its sub-account balances.

  • In the Close Package report, individual accounts of an account group appear under the Account Group section.

Add notes and attachments at the task level

In addition to adding comments and attachments to Supporting and Adjustment items, you can now add them at the task level. Previously, Notes and Attachments could only be added to Supporting or Adjustment items. For details, refer to Add a note or an attachment at the task level.

View assigned tasks across all entities

Users can now view all tasks assigned to them across multiple entities on the Close Management Home > My Tasks page. To display tasks from all entities, select All Entities from the Entity drop-down list. Tasks from all entities appear in the To Do and Account Reconciliation tabs. Users can filter and sort tasks as needed.

 Note:  The Account Type roll-up does not apply in this view.

Download workflow tasks

Clicking the button on the Workflow Details page now exports all tasks (To Do and Account Reconciliation) associated with a specific workflow into an Excel file. The exported data matches the information displayed in the Workflow grid.

2024

 

2024.3.1

January 2025

Auto reconcile if balanced is unchanged from last period

This release includes a new auto-reconciliation option: If balance is unchanged. When an account balance is imported, the system compares it to the prior period’s balance. If the balance remains the same , the system automatically assigns the selected status—Completed or Pending Approval.

For more information, refer to the Auto reconcile if balance is unchanged section of the Automatic reconciliation rules article.

2024.3.0

December 2024

Delete multiple accounts

Users can now delete multiple accounts at once. Hold down the CTRL or SHIFT key to select multiple accounts from the list, then click to remove all the selected accounts.

Row validation for unsaved supporting items and adjustments

If a user begins adding an item to reconciliation but does not complete it, a confirmation message will appear if they attempt to leave the page. This helps prevent accidental loss of work.

Confirm admin task submissions

Administrators can now submit tasks that are not assigned to them. To prevent accidental submissions, a confirmation dialog will appear to verify the action. Admins can also choose to disable this prompt for future submissions.

Duplicate layouts

Users can now duplicate layouts with ease. This new option is available starting with this release.

Sort and filter task lists

Sorting and filtering capabilities are now available across all task lists in the product, including the To Do Task Overview, AR Task Overview, and My Tasks sections.

Additionally, a Reset View button has also been added, allowing users to easily restore filters to their default settings.

2024.2.0

November 2024

The Help center

The Help icon at the top right corner of a page opens the Help Center which contains a link to Help Documentation. Click the Help Documentation link to access the online help resources.

Roll forward options for quarterly and annually reconciled accounts

Users can now roll forward accounts with monthly, quarterly, and annual frequencies. The roll-forward process respects each account's frequency, giving users greater control over which accounts and workflows are carried forward based on their monthly, quarterly, or annual settings.

In addition to rolling forward account data and workflow tasks, attachments and notes are now also included. Previously, only supporting item and adjustment details (such as row data) were copied forward, without attachments and notes. This enhancement ensures that all relevant content is retained in the roll forward process.

For details, refer to the Roll forward accounts with different frequencies article.

Automatically reconcile accounts if balance is zero

Accounts can be set to auto reconcile if there is a zero balance upon importing the general ledger balance. For more information, refer to the Auto reconciliation article.

New frequency property for accounts

Accounts now include a Frequency property, allowing users to set each account as Monthly, Quarterly, or Annually. This setting helps to streamline workflows by aligning account processes with their designated time (frequency) intervals.

Workflow details - Improved display of preparer and approver information

First and last names, not email addresses, of preparers and approvers now displayed on tasks.

Sort and filter workflow details

We have added sorting and filtering features to the workflow, making it easier to manage and edit tasks.

  • Filtering options : You can filter by tasks by the following fields:

    • Task Name

    • Preparer

    • Approver

    • Status

  • Sorting options: You can also sort by these fields:

    • Task Name

    • Status

    • Preparer

    • Preparer Due

    • Approver

    • Approver Due

Option to import layout for accounts

Administrators now have the option to import the Layout field when importing accounts.

Multi-language translation

This release includes support for the following languages:

  • French

  • Spanish

  • German

  • Portuguese

2024.1.2

October 2024

This release includes resolved issues only. For details, refer to the Account Reconciliation 2024.1.2 Release notes.

2024.1.0

September 2024

Account Reconciliation is new! This is the inaugural release.

2024.1.0 Highlights

Monitor and manage Account Reconciliation and Close Process (To do) Tasks

  • View the status of all account reconciliations and close tasks.

  • Streamline workflow management for close process checklist tasks and account reconciliations.

  • Track account reconciliations through the submit, approve, and reject workflow stages.

  • Access a dashboard for real-time close process progress tracking.

Complete Balance-level reconciliation

  • Import the trial balance (Data integration).

  • Input supporting details and adjustments.

  • Attach Excel workbooks or PDFs to account reconciliation supporting details.

Collaborate on the Close process

  • Receive workflow notifications when tasks become available.

  • Exchange comments between users on account reconciliations and tasks.

  • Reassign tasks on the go to balance workloads effectively

Audit-ready Financial Close

  • Establish a clear and consistent financial close process structure.

  • Implement best practices and maintain full transparency.

  • Ensure strict separation of duties and robust internal controls for compliance.

  • Achieve end-to-end auditability.