The Reconciliation tab checks each balance sheet account against the schedule that supports it, and shows every account that does not match as an exception.
Mac appAvailable
Windows appAvailable
To reconcile an account is to check that the ledger's balance for it agrees with the paperwork behind it. If the ledger says the company holds a certain amount of prepaid services, a prepaid schedule should list contracts that add up to the same amount. If they do not agree, someone has to find out why.
The Reconciliation tab shows that check for every balance sheet account the books reconcile.
The Reconciliation tab. One account is an exception.
What you see
A table lists each account with:
the kind of schedule behind it, such as prepaid amortization, fixed assets or a rollforward;
the balance Per GL (the general ledger) and Per schedule;
the Difference;
a Status, either reconciled or exception →.
Click an exception to open its schedule under the table. Each schedule is recomputed from its own rows. A row that disagrees with the balance it states is marked with a warning sign.
Below the table, Haruno also lists balances that have no reconciliation at all. They are:
material balances that no schedule supports;
bank and credit-card balances with no QuickBooks reconciliation report. Haruno expects one for each of these.
A company with nothing to reconcile says No reconciliations at this close.
Where the support comes from
Support arrives as files. A company that reads Excel exports can add a reconciliation workbook. A QuickBooks company can add QuickBooks reconciliation reports as PDFs. Haruno reads those PDFs even though it reads no other PDF in the books. See Adding a company and importing files.
If a closed month was closed with nothing reconciled, the months list says so and how to fix it. Add the month's reconciliation files, reopen the month and close it again.
Exceptions feed the findings
An exception raises a finding on the Findings & questions tab and shows as a count on the company's card and on the Portfolio. See Findings and questions for management.