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FI and FM reconciliation

Former Member
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When the reconciliation analysis report is generated, there is a difference (in negative). Please provide me an explanation as to the cause of the difference and the possible solutions from FI and FM reconciliation tool perspective. Thanks.

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Answers (1)

Answers (1)

former_member184992
Active Contributor
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Hi,

Please provide addditional details, report names, negative where (FI or FM) and so on.

Please detail as much as you can, this will make life easier for the contributors to understand clearly your issue and help you. Thanks for your understanding.

Best Regards,

Vanessa.

Former Member
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Status of Fund (SOF) does not agree with Trial Balance (TB) used for financial statements. SOF and TB differences cause Year End (YE) reporting anomalies. Do you think the following are some of the reasons or there may be more?

1. FM postings can be statistical postings which means it might not impact the GL accounts in FI.

2. Statistical postings in FM, might update postings in other components but not consume the budget.

3. Similarly FM may have assured receivables but not yet received yet.

iklovski
Active Contributor
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Hi,

FM is not subsidiary of FI, therefore reconciliation between them is not obvious and depends on specific definitions made in FM update profile, budget consumption logic, etc. For example, you might have entries in FI with no FM documents (only update in totals) and, on the contrary, you can have consumption in FM (e.g. PO, EMF, etc.) with no impact on FI. Only if you use budgetary ledger functionality in FM, the reconciliation becomes more structured. Otherwise, you have to perform complete analysis of your postings in FM and take(or exclude) some entries depending on your customization.

Regards,

Eli