What is accrual accounting?
To accrue means to allocate income and expenses to the accounting period they actually belong to, regardless of when they are paid. This ensures correct accounting and balance.
Step by step: Reconcile accruals
1. Update balance data
Click the update icon in the top right of the page.
Make sure to update the balance for the entire year.
2. Check template
Go to Account under Reconciliation in the menu on the left.
Find the accrual accounts you want to reconcile (e.g. 1749, 2960, 1700) and check that they are set to the General ledger template.
💡 Tip: You can filter the account overview by Template: General ledger to see relevant accounts.
3. Open accrual account and select Auto-reconciliation
Click the desired account and then click Auto Reconcile in the top right of the page.
You can expand all lines and select the transactions you want to include.
The system will automatically suggest which transactions should be reconciled.
4. Approve suggestion
When you have reviewed the details, click Approve suggestion to approve the selected transactions.
💡 Tip: You can expand all rows for a better overview before approving.
4. Review and approve remaining transactions
At the bottom of the page, you will see the remaining transactions in the Reconcile list.
Check the lines you want to include, and click Approve.
5. Approve the entire account
When all relevant transactions are approved, click Mark as Approved at the top of the page.
