Steps: Prepare Account Reconciliations in AP&C

Create Reconciliations for Fiscal Periods in AP&C.

Configure the Reconciliation Period Event
business process and security policy.

Security: Process: Account Reconciliation
domain in the Financial Accounting functional area.

In Adaptive Planning and Consolidation (AP&C), the

Account Reconciliation Hub

is a central location for preparers and approvers to view and manage reconciliations. When you first access the hub, the

Overview

report doesn't display any data. You can filter by company or hierarchy, fiscal period, or book to display reconciliations.

On the

Overview

report, the

All Reconciliations

tab displays all reconciliations that you have access to through roles on account reconciliation definitions. From this tab, managers can filter reconciliations by status, track progress, and understand the overall workload. Preparers can start preparing reconciliations that have the status Not Started
, or reassign reconciliations that another user has begun preparing to themselves.

The

Assigned to Me

tab displays all reconciliations for which you are the active preparer or approver. This tab helps you manage and prioritize your workload by providing a clear list of current and upcoming tasks.

When you open a reconciliation, Workday displays the

View Reconciliation Workspace

report, which provides the details of an individual reconciliation. The header and

Reconciliation Definition Properties

section display a subset of the criteria used to create the reconciliation. The

Reconciliation Summary

displays a summary of the balances to be reconciled and, when the reconciliation has been certified or submitted for certification, the certified balance or the balance awaiting certification.

As a preparer, you can:

View reconciliation details.

Start preparing reconciliations.

Reassign reconciliations from other preparers to yourself.

Add reconciling items, supporting balances, and attachments.

Add comments to reconciliations, reconciling items, and supporting balances.

Drill down on summary balances.

Submit reconciliations for approval.

As an approver, you can:

View reconciliation details.

Add comments to reconciliations, reconciling items, and supporting balances.

Drill down on summary balances.

Certify reconciliations.

Send reconciliations back to the preparer.

Users who have permission to rescind the Reconciliation Period Event
business process can also decertify reconciliations from the

View Reconciliation Workspace

report. When you decertify a reconciliation, Workday changes the reconciliation status to Decertified
and removes the active preparer and approver. The reconciliation displays on the

Account Reconciliation Hub

with all potential preparers and approvers assigned on the reconciliation definition, similar to reconciliations in Not Started
status.

Access the

Account Reconciliation Hub

On the

Reconciliation Overview

report, click

Filter

Select a fiscal period to filter by. You can also add filters for companies or books.

On the

All Reconciliations

tab, click

View

for a reconciliation you want to prepare.

On the

View Reconciliation Workspace

report:

Click

Start

or, when another preparer has already started preparing the reconciliation, click

Assign to Me

Review the

Reconciliation Summary

section.

Add or update supporting balances.

See Steps: Add Supporting Balances to Account Reconciliations in AP&C.

Add or update reconciling Items.

See Steps: Add Reconciling Items to Account Reconciliations in AP&C.

(Optional) On the

View Reconciliation Workspace

report, review the

Reconciliation Summary

section and drill down on balances.

This section displays the balances of your ledger accounts, supporting balances, reconciling items, and any unreconciled difference.

(Optional) From the grids on the

Reconciling Items

and

Supporting Balances

tabs, you can:

Resolve or reopen reconciling items.

Add comments to supporting balances or reconciling items.

To send the reconciliation for approval and certification, click

Submit

When you click

Submit

, Workday starts the Reconciliation Period Event
business process and sends the reconciliation to the assigned approvers for review.

Depending on how you configured the Reconciliation Period Event
business process, approvers can access the reconciliation from the

View Reconciliation Workspace

report or from

My Tasks

Approvers can review and approve the reconciliation to certify it, or add comments and send it back to the preparer for changes.

After an approver certifies a reconciliation, users with rescind permission on the Reconciliation Period Event
business process can decertify it by clicking

Decertify

on the

View Reconciliation Workspace

report.