====== Account Reconciliation / Reconcile Old Money Transaction Balances ======

One of the more powerful features added to Liberty 4 Consignment is the **Reconcile Account Balances** routine. This feature is continued in Liberty REACT and adds a way to handle old balances. Old balances picked up by this **Reconcile Account Balances** can be treated in one of two ways:

  * They can be converted to a non-payable balance usable only for store credit; or they can be deducted from accounts, effectively forfeiting the remaining old balances. \\ A list of accounts will be presented allowing the store to remove accounts from the process if needed. Now stores can either convert the balances to non-payable store credit usable only in the POS to purchase items, or remove the money from their accounts entirely. \\ To access this new feature, go to **Activities >  Accounting >  Reconcile Accounts**. \\ Note: A database backup is recommended prior to proceeding. The process, once completed, cannot be reversed in bulk \\ {{libertyreact:lib:newitem2167.png|NewItem2167.png}} \\ (The following window will appear.) \\ **It is VERY IMPORTANT you read each window carefully before moving forward**. \\ {{libertyreact:lib:account_reconciliation.jpg|Account Reconciliation.jpg}}
  - You will need to enter the accounts range you wish to affect.
  - If you wish to only affect accounts with specific filter codes, select the appropriate code from the drop-down menu.
  - In the **Items Sold Through** field select the date range for the items you wish to affect. In other words, the reconcile would only affect item transactions from the beginning of time through a specific date.
  - You can exclude accounts that have more recent transactions by selecting a date in the Exclude Accounts with Transactions after date.
  - The **Apply to Payable Amounts Only** checkbox would allow you exclude any currently non-payable (store credit only) transactions already existing in the accounts.
  - After all is set up click the **Prepare** button. \\ (The following window will appear.) \\ {{libertyreact:lib:newitem2164.png|NewItem2164.png}}
  - The **Remove Selected** button allows you remove accounts from the prepared list, and hence, removing them from the reconcile run.
  - The **Print** button allows you to print this list for your records.
  - You can change the text within the **Description for Balance Forward*** box to reflect whatever wording you want for this reconcile run. This text will appear in the description column, on the transaction tab for the account included in the run.
  - **Do not create a balance forward transaction**. - If this box is checked all monies included in this run will be forfeit and removed from the account *(it will appear as forfeited balance on the account transaction tab). If **unchecked** any balances included will be converted to Non-Payable money. Those funds will appear on the total owed area of the trans tab, but not in the total payable. Non-payable money may be used in the Point of Sale to purchase items but will **never** be applied to a payout or pay-advance.
  - Once all the parameters have been selected simply click the **Process** button to complete the process or Cancel to abort the process.

(The following window will appear.)

{{libertyreact:lib:newitem2163.png|NewItem2163.png}}
==== Next Section Navigation Link ====

Click the following link to see a list of articles for the next section: \\ [[:payingclients:newtopic56|Videos]]

==== Related Topics ====

[[payingclients:reconcileoldtransbalances]]
[[payingclients:amountpayable]]
[[payingclients:assessingfeestoaccts]]
[[payingclients:changepaymentacct]]
[[payingclients:checkfeesetup]]
[[payingclients:checkoffsets]]
[[payingclients:clearchecks]]
[[payingclients:combinereconciletrans]]
[[payingclients:creditdebitaccounts]]
[[payingclients:expirepostedpayment]]