Reconcile accounts faster using the enhanced Account reconciliation agent

Business value

Reconciliation of data is a time-consuming process that you often defer until the end of a period. This deferral adds time and headaches to the completion of period end tasks. The subledger to general ledger reconciliation feature changes this process to be proactive rather than reactive when a difference is identified. Use Copilot to notify you of a difference between the subledger and the general ledger, provide options for how to resolve the issue, and eventually resolve the issue on your behalf. Reconciliation is no longer a bottleneck but is always in a continuous state of readiness.

Feature details

The first reconciliation automations focus on reconciling subledgers to the general ledger balances. Instead of using SSRS reports, a near-real-time process proactively notifies the finance team of any reconciliation issues. When the process recognizes an issue, each transaction provides many options for possible solutions. The solution might be changing a setting on the main account, such as don't allow manual entry, or it might be recognizing when a posting profile change causes a different balance sheet account to be used for reconciliation. The process maintains an audit trail when you identify issues and their solution. The first public preview included the subledger-to-ledger reconciliation automation but didn't include recommendations by the Account reconciliation agent for how to address exceptions. We later added agent functionality for recommending the action to take to address the exception when amounts don't match for individual transactions. This public preview introduces agent functionality for recommending what action to take to address the exception for additional exception types, including "In ledger, not in subledger" and "In subledger, not in ledger" individual transactions. The agent functionality also improves linking scenarios where many ledger transactions link to a subledger entry, many subledger entries link to a ledger entry, or multiple ledger entries link to multiple subledger entries. Copilot learns from past solutions and moves toward automatic resolution to any reconciliation issues (longer-term vision). An audit trail tracks actions taken by Copilot.