Set up automated reconciliation schedules

Automated Reconciliation Schedules allow users to automate and manage recurring reconciliation entries for specific accounts, most commonly prepaids or similar items, where amounts are systematically recognized (e.g. monthly expense of an annual prepaid service).

This is particularly useful for accounts that follow predictable recognition patterns, like amortizing a prepaid insurance policy over 12 months, saving users from manually adjusting these entries every period.

Set up a schedule-based account

Creating a schedule-based account involves the following steps:

  1. Creating a Schedule layout.

  2. Assigning the Schedule layout to an account.

  3. Creating a workflow task using the account.

1. Create a Schedule layout

To set up a layout for schedules, access the Layouts page.

  1. Navigate to .The Period Setup page opens, showing existing periods.

  2. Select an open period to which for which you want to add a custom layout.

  3. Click the Layouts tab.

  4. In the Type field, select Schedule.

  5. Complete the other fields. See instructions in the Add new layout section of the Layout article.

     Note:

    The following fields are required for a Schedule type layout:

    • Name

    • Start Date

    • Duration

    • Debited Account

    • Credited Account

    • Starting balance


2. Assign schedule layout to an account or account group

After creating a schedule layout, you need to assign it to an account or account group to set up an automated reconciliation schedule for that account or account group.

  1. Navigate to the Accounts or Account Groups tab (on the Period Setup page).

  2. Select the account or account group add a new account.

    • In the Reconciliation policy field, choose Schedule.

    • For Schedule Layout, select the applicable schedule layout.

    • Complete the other fields.

     Note:  To set up a new account, see Set up and manage accounts . To set up a new account group, see Set up and manage account groups.

3. Create a workflow task using the account

  1. Navigate to the Workflows tab (on the Period Setup page).

  2. Create a Workflow Task using this account, just as you would any other Account Reconciliation type task. For details on creating workflow tasks, see Add and manage workflow tasks.

Use schedules to reconcile accounts

Refer to the Reconcile accounts with schedules article