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Reconciliation Without Reference Column

  • There may be situations, when either there is no reference to compare or even if there is reference, you just need to compare amounts to find out the differences. In such scenarios, Reconciliation Sutra provides you with an option to prepare your reconciliation report just by comparing amounts.

  • As you would see in the below image, there is no mandatory (*) sign against any of the selections to be made. This means all these are optional and you can simply click “Run Report” if you just wish to compare only amounts for your reconciliation.

  • Once you click “Run Report”, our add-on will generate below “Reconciliation report”:

Let us understand how our add-on generated this report.

  • Well, it is fairly simple. Since there is no reference to compare, our tool will compare each amount from source 1 with amounts in source 2 and vice-versa. If it finds matching amount (refer note for decimals), it will plot it against the same, if it doesn’t then will show in Remarks column accordingly.

  • In such situations, since it considers “amount” as the criteria, there is no question of difference column. Hence Remarks can be either be “Matched” or “Source1/2 Only” as can be seen in our reconciliation report.

Note (IMPORTANT): Please note that in such situations, our tool will ignore decimals while comparing amounts. In our example you will see that though we consider decimals in final report, but for reconciliation purpose, it will be ignored.

Info: In case of duplicate amounts, we will follow FIFO approach i.e amount which appears first will be considered first and so on.

Remember: As a part of better control, we enable “Nominal Difference” only when Reference column in both the sources are selected. Hence when you wish to reconcile “only amount” as the criteria, “Nominal Differencewill not be available for you. However as a part of standard reporting, we will show nominal difference as zero in our report.

Tip: You can always use Additional columns in final report. By doing so, you will get additional information along with amount. This will make final report look more presentable and meaningful.

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