Reconciliation History and Reports

#Reconciliation History

View the complete history of reconciliation activities for each bank account:

1. Go to Settings > Bank accounts
2. Find an account and click View History
3. See all past reconciliation runs:
   • Date and time of reconciliation
   • Who ran it (manual) or "Automatic"
   • Number of transactions processed
   • Number of matches found
   • Success or failure status

This history provides an audit trail of when and how each account was reconciled.

#Reconciliation Status Dashboard

View the current reconciliation status across all accounts:

1. Go to Accounting > Bank reconciliation to view reconciliation dashboard
2. See each account with:
   • Total transactions - Bank transactions in the period
   • Matched - Successfully matched to GL entries
   • Unmatched - Transactions without matches
   • Reconciliation % - Matched / Total percentage
   • Last reconciliation - When it was last done
   • Status - Complete, In Progress, or Failed

The dashboard gives you a quick overview of reconciliation health.

Tip: Accounts with less than 95% reconciliation need investigation.

#Unmatched Items Report

View details of all unmatched transactions and GL entries:

1. Go to Accounting → Bank reconciliation → Reports > Unmatched Items
2. Filter by:
   • Account - Specific bank account
   • Date range - Period to report on
   • Type - Bank transactions, GL entries, or both
   • Age - How long unmatched
3. View the list showing:
   • Transaction/entry date
   • Amount
   • Description
   • Days unmatched
   • Status (investigate, exclude, or clear)

This report helps identify discrepancies and bottlenecks.

#Outstanding Items Report

View items expected to reconcile in the future:

1. Go to Accounting → Bank reconciliation → Reports > Outstanding Items
2. See:
   • Outstanding checks - Checks written but not cashed
   • Deposits in transit - Deposits received but not cleared
   • Pending bank transactions - Transactions not yet finalized by the bank
   • Expected GL entries - Entries that should post but haven't yet

This helps you forecast reconciliation—you expect these items to disappear.

#Aged Analysis Report

Understand how long items have been unmatched:

1. Go to Accounting → Bank reconciliation → Reports > Aged Analysis
2. View buckets:
   • 0-7 days - Recent, likely timing differences
   • 7-30 days - Should be investigated
   • 30-60 days - Likely errors, needs action
   • 60+ days - Significant issue, escalate

Items older than 60 days typically indicate data errors or missing GL entries.

#Reconciliation Summary Report

High-level reconciliation metrics:

1. Go to Accounting → Bank reconciliation → Reports > Summary
2. See:
   • Total bank transactions by account
   • Total matches and match rate %
   • Total outstanding items and dollar amount
   • Total FX adjustments (for multi-currency accounts)
   • Reconciliation variance (bank balance vs. GL balance)

Use this for monthly reporting to management.

#Cleared Transactions Report

View all transactions that have been reconciled:

1. Go to Accounting → Bank reconciliation → Reports > Cleared Transactions
2. Filter by:
   • Account - Specific account
   • Date range - Period to report on
   • Cleared date - When the match occurred
3. See for each cleared pair:
   • Bank transaction details
   • Matched GL entry
   • Matching rule used
   • Date matched
   • User who cleared it (if manual)

This report is useful for:

• Audit trail (who matched what)
• Debugging matching (which rule was used)
• Historical analysis (trends in matching patterns)

#FX Impact Report

For multi-currency accounts, see FX gains and losses:

1. Go to Accounting → Bank reconciliation → Reports > FX Impact
2. View:
   • By currency - FX gain/loss per currency pair
   • By transaction - FX gain/loss per individual transaction
   • Summary - Total FX impact for the period
   • Trend - FX impact over time

This helps understand how currency volatility affected results.

#Reconciliation Rule Statistics

Track the effectiveness of your automation rules:

1. Go to Accounting → Bank reconciliation → Reports > Rule Statistics
2. View for each rule:
   • Times applied - How many transactions matched this rule
   • Match accuracy - Were the matches correct
   • Success rate - % of transactions correctly matched
   • Most recent use - Last time the rule applied

Use this to:

• Identify underutilized or ineffective rules
• Find rules that frequently produce incorrect matches
• Optimize rule order and conditions

#Exception Report

View transactions that required manual intervention:

1. Go to Accounting → Bank reconciliation → Reports > Exceptions
2. See:
   • Transactions auto-matched but then manually cleared (different match)
   • Transactions marked as excluded
   • Transactions with warnings or notes
   • Transactions requiring investigation

This helps you understand where automation isn't working.

#Variance Report

Identify differences between bank balance and GL balance:

1. Go to Accounting → Bank reconciliation → Reports > Variance
2. View:
   • Bank balance - Per bank statement
   • GL balance - Per general ledger
   • Variance amount - Difference
   • Outstanding items - Items that explain the variance
   • Remaining variance - Unexplained difference

This is the most important report—it should show zero or only outstanding items.

#Generating Custom Reports

Create custom reports for specific analysis:

1. Go to Accounting → Bank reconciliation → Reports > Custom
2. Click Create Report
3. Select data to include:
   • Account(s)
   • Date range
   • Transaction types (debits, credits, etc.)
   • Matching status
   • Currencies
   • Custom filters
4. Choose output format (PDF, Excel, CSV)
5. Click Generate

Save custom report templates for regular use (e.g., monthly reports).

#Exporting Data

Export reconciliation data for external analysis:

1. Open any reconciliation report
2. Click Export
3. Choose format:
   • Excel - Full spreadsheet with multiple sheets
   • CSV - Comma-separated values for import elsewhere
   • PDF - Formatted report for printing/sharing
4. Specify rows to export:
   • All results
   • Currently viewed/filtered results
   • Selected rows only

#Archiving Reconciliation Records

Keep historical reconciliation records:

1. At period-end, export all reconciliation reports
2. Store exports in secure location (cloud storage, archive)
3. Keep for audit and compliance (typically 7 years minimum)

Light maintains reconciliation data indefinitely, but exporting provides independent backup.

#Reconciliation Sign-Off

Formally close out reconciliation:

1. Once all items are matched or explained:
   • Go to Accounting → Bank reconciliation → [Account]
   • Click Sign Off
   • Add notes explaining any exceptions
2. System records who signed off and when
3. Account is marked as "Reconciled" for the period

Sign-off creates an audit trail showing management approved the reconciliation.

#Monthly Reconciliation Checklist

Use reports to complete monthly reconciliation:

• Run automated reconciliation (see dashboard)
• Review unmatched items (investigate and clear)
• Check aged analysis (follow up on items over 30 days)
• Verify FX adjustments have been posted (if multi-currency)
• Generate variance report (confirm zero variance or only outstanding)
• Export all reports for archive
• Sign off on reconciliation
• Report reconciliation status to management

#Best Practices

• Review reports weekly - Not just monthly
• Archive exports - Keep independent backup outside Light
• Monitor metrics - Track reconciliation % trends
• Investigate exceptions - Don't just accept automated matches
• Document conclusions - Keep notes on why items were excluded
• Share with auditors - Provide reports during audit
• Use for improvement - Analyze rule statistics to improve automation
• Sign off formally - Create audit trail of management approval

#Related Articles

• Automated bank reconciliation
• Reconciliation automation rules
• Resolving discrepancies