Financial Accounting System

Auto Reconciliation Process

• Purpose

  The purpose of auto reconciliation is to eliminate the manual effort required daily in order to insure the correct operation and use of the Financial Accounting System. In addition to replacing the current manual procedures performed by accounting staff, auto reconciliation will extend the existing reconciliation process to include the reconciliation of the on-line MIS and OFIS datasets.

• Approach

  Existing batch programs which are the source of the current reconciliation reports will be modified to extract the data used on the reconciliation worksheets.

  This data will be stored in DMSII datasets. Following the completion of nightly FAS Daily, Ofis, and Mis jobstreams, a new process will read the reconciliation datasets and apply the reconciliation rules to the information supplied by the nightly processes.

  Batch reports will be produced which provided information similar to what is currently provided by the existing reconciliation worksheets but in a more easily digestable format.

  The On-line component of this process will:

  • display a summary of a selected days reconciliation as well as any variances which exist
  • provide the ability to enter reconciliation amounts to correct variances
  • require comments to be entered justifying/identifying the source of the descrepancy