Koali Release Notes

Create a New Bank Reconciliation
Create the Next Bank Reconciliation

The New button on the Bank Reconciliation list view is available to create a reconciliation that has not been previously created using a selected combination of GL Account, GL Account Variables, Currency, Ledger and/or Type. However, if the selected combination has been previously used to create a reconciliation, the Create Next button, which is located directly on the Bank Reconciliation screen makes it easy to create the next reconciliation. Most of the fields on the Create Next Bank Reconciliation screen display pre-populated and you will only need to complete information such as the Statement End Date and the Statement Ending Balance.

Bank Reconciliation Header Information

The Bank Reconciliation header makes it easy to determine information such as the selected Bank/Credit Card GL Account, Statement Ending Date, and the Ledger. Additionally, if you have multi-currency enabled, the currency for the Bank Reconciliation is included as part of the header information. 

The Bank Reconciliation header also includes the status, which initially displays as “In Progress.” The status of “In Progress” allows you to clear and/or unclear records that are included in the reconciliation. When a Bank Reconciliation is finalized and the Difference is zero (0.00) in the calculation section of the screen, the status can be changed to “Completed.”

Important: When changing the status of a Bank Reconciliation from “In Progress” to “Completed” and vice versa, similar to closing Accounting Periods, the current and the prior reconciliation must be taken into consideration. For example, if you attempted to change the status to “Completed” on the current Bank Reconciliation when the prior one is still in an “In Progress” status, a message displays to indicate that the status cannot be changed because the prior reconciliation is “In Progress.” Additionally, when changing a Bank Reconciliation status, only related reconciliations need to be considered (reconciliations with the same Bank or Credit Card GL Account).

Bank Reconciliation Calculation

In Progress Status

The Bank Reconciliation Calculation is the second section of the Reconciliation screen. When a Bank Reconciliation is in a status of “In Progress,” this section includes the amounts that reconcile the General Ledger Balance to the Statement Balance. The part of the calculation for the Statement Balance includes the Statement Ending Balance (for Bank or Credit Card GL Account). If there is a difference between the Cleared Balance and the Statement Ending Balance, the amount displays in the Difference portion of the calculation with the Warning icon.  

The Bank Reconciliation Calculation section of the screen updates in real-time as you clear/unclear records on the Bank Reconciliation data grid. Once the Cleared Balance and the Statement Ending Balance are the same, a green checkmark displays to indicate that there is no longer a difference between the two amounts/balances. When the Difference is zero (0.00), the status of the Bank Reconciliation can be changed to Completed. 

Completed Status

When a reconciliation status has been changed to “Completed,” the Bank Reconciliation Calculation changes to include the amounts that reconcile the Statement Balance to the GL Balance. 

The part of the calculation that includes the GL Balance is the GL Ending Balance. If the GL Difference is zero (0.00), a green checkmark displays. If the GL Difference is an amount other than zero, the difference displays with the Warning icon. If adjustments are needed, the status of the Bank Reconciliation can be changed back to “In Progress.” 

Reconciliation Tab and Data Grid 

Perform a Bank Reconciliation

The third section of the Bank Reconciliation screen is the data grid, which is available on the Reconciliation (default) tab. This functions as your workspace to perform tasks such as the following:

• Clear and/or unclear records
• Edit the Cleared Date
• Filter criteria on the data grid 
• Review a source record or payee information

The Reconciliation tab includes the Clear All/Unclear All button, which functions as a toggle to clear all records on the current page or unclear all records on the page. The Reconciliation tab also includes the Filter button, which allows you to filter information on the data grid using any or all of following criteria:

• All records, Cleared, or uncleared records
• Date
• Type of record (Payment, Deposit, or Charge)
• Amount

Up to 100 records per page can display on a Bank Reconciliation and a total of up to 8000 records can be included in a single Bank Reconciliation. When you create a new or next Bank Reconciliation, the system checks to determine if more than 8000 records will be included. Therefore, a new Bank Reconciliation cannot be saved with more than 8000 records. However, once a new Bank Reconciliation has been saved, it is possible to have additional uncleared source records added to it while the reconciliation is in an “In Progress” status. If this occurs, a message will display on the Bank Reconciliation screen to indicate that more than 8000 records exist. To view a complete listing of all the records that are included in a Bank Reconciliation, you can create a CSV file. 

Automatic Cleared and Saved Records

After saving a new or next Bank Reconciliation, the system will check for any uncleared records with the Bank Deposit date, Cash Disbursement date, Cash Receipt date, or Journal Entry Line date that is less than or equal to the Statement Ending Date and have the Cleared Date field pre-populated that is also less than or equal to the Statement Ending Date. Typically, records with the Cleared Date pre-populated will be records that were added or matched in the Bank Direct Connect - Bank Transactions. Records that have a pre-populated Cleared Date will automatically be cleared and saved (committed) into the database. Therefore, you will not have to manually clear these records one at a time from the Bank Reconciliation. Once a new or next Bank Reconciliation is saved, and the Bank Reconciliation screen displays, these records are easily identified with a green checkmark and the Cleared Date pre-populated.

Note: Records that are automatically cleared and saved upon creation of a new/next Bank Reconciliation are not included as part of the up to 100 records per page that can be batch cleared/uncleared. For example, 50 records may have been automatically cleared and saved upon the creation of a new Bank Reconciliation. Using this example, up to 100 records per page could still be batch cleared. 

Bank Reconciliation with Multi-Currency

If you have multi-currency enabled in your organization (org), a Currency field displays in the header section of the Bank Reconciliation screen. The Currency field identifies the currency for the Bank Reconciliation. Additionally, the Bank Reconciliation data grid includes the Ledger Amount column, which identifies the actual amount that was posted to the General Ledger for each record. With multi-currency, the amount that displays in the Ledger Amount column on each record will be the amount that makes up the Cleared Deposits and/or the Cleared Payments in the Bank Reconciliation Calculation.

Keep the following points in mind when using multi-currency:

• If a Bank Reconciliation’s currency is equal to the Ledger’s currency, the source records that will be available to be reconciled can have any currency.
• If a Bank Reconciliation’s currency is not equal to the Ledger’s currency, only source records that match the Bank Reconciliation’s currency will display on the reconciliation. 
• If the foreign home currency is in use, the Bank Reconciliation will only support originating transactions that are in either the foreign home currency or the Ledger currency.    

Bank Reconciliation API Enhancements

Our Bank Reconciliation API (Application Programming Interface) has been enhanced to support the new and improved version of Bank Reconciliation. Stay tuned to our Knowledge Base for the related changes coming soon to Accounting Seed API Documentation. 

Legacy Bank Reconciliations

Bank Reconciliations that were created in Accounting Seed before installing the Koali release can be selected and displayed in the new Bank Reconciliation screen from the All list view (or another list view that you create). Once you display a legacy Bank Reconciliation, if reconciliation reports have previously been created, they will be available under the Notes & Files tab. 

The Status (In Progress or Completed) field on a legacy Bank Reconciliation cannot be changed/updated. Additionally, records cannot be cleared on a legacy Bank Reconciliation. If you attempt to clear a record on a legacy Bank Reconciliation, a warning message will display. Records can be uncleared on a legacy Bank Reconciliation. Click the green checkmark to manually unclear each record. Or, if there are a large number of records that need to be uncleared, you might want to delete the legacy Bank Reconciliation and create a new one. Records that are uncleared or removed because the Bank Reconciliation was deleted will be available to display in a new Bank Reconciliation.

Return to top

Accounting Period Recurring  Tasks

Set up an Accounting Period Recurring Task

With the Koali release, an Accounting Period Task can be automatically created from a Recurring Accounting Period template. This is an easy way to create Accounting Period task records that should be repeated during a defined future interval. 

Preloaded Recurring Accounting Task templates are included with the installation of the Koali release. Each preloaded template starts with a naming convention that makes it easy to sort and quickly identify the purpose for an Accounting Period Recurring Task template. The following are examples of the preloaded Recurring Accounting Task templates that will be included:  

• ADMIN: Create new Accounting Periods for next 12 months
• AP/EXPENSE: Process Vendor Accounts Payable
• AR/SALES: Recognize revenue
• CASH: Reconcile Bank Accounts
• CLOSE: Close system Accounting Period
• PAYROLL: Process Payroll
• REPORTING: Generate Financial Statements

The preloaded templates can be cloned to create Recurring Accounting Period Task templates specifically for your organization (org).  

The naming convention on the preloaded templates are suggestions, which can be changed or additional ones can be added. The preloaded templates with the naming convention provide direction for creating additional templates, which can be used to create tasks.

Accounting Period Recurring Task Dashboard

The Accounting Period Recurring Tasks Dashboard is available from the Accounting Dashboard. The Dashboard report shows the Accounting Period Recurring Tasks (up to the first 200 rows) by task name, username who was assigned to the task, the subject, date, priority, and status. To view the full report, click the View Report (Accounting Period Recurring Tasks Report) hyperlink that displays at the bottom of the Dashboard. 

Configuration Changes/Requirements:

To add this new component to the Accounting Dashboard, existing users should refer to the Add a new Dashboard Component section in the Management Reports and Dashboards article.

Recurring Period Task Job

Automate a Recurring Period Task

A new Recurring Period Task job has been added to our growing list of scheduled jobs on the Automation tab in Accounting Settings. With each daily/nightly run of the Recurring Period Task job, the Accounting Period Tasks will automatically be created from your templates (based upon the Create Date) and assigned to the selected users as tasks. The assigned user(s) will receive an email notification and be able to see the task assignment(s) in their Tasks listing.

Return to top

Automated Job Results

Automated Job Results

With the Koali release, the run results (information on processed, succeeded, and/or failed records) of automated jobs can be shared with multiple users. That way, rather than just a single email going to the user who created the scheduled job(s), this information can be shared with many users across your team. For example, you might have the Recurring Billing job, Recurring Payable job, and the Scheduled Post job automatically scheduled to run overnight from the Automation tab in Accounting Settings. When the automation process runs each night for these jobs, the system creates an Automated Job Results record for each of the scheduled jobs, which can now be viewed by multiple users. 

The Automated Job Results (AJR) process will automatically run after all the scheduled jobs as a system background process. Therefore, it will not be necessary to perform any setups in order for the AJR process to complete. 

Note: If you have the Scheduled Bank Download job and/or the NPSP Opportunity Journal Entries job scheduled to run daily/nightly on the Automation tab, the AJR process is not applicable for these two jobs with the Koali release. 

Automated Job Results Exception Report

Review an Automated Job Results Exception Report

The Automated Job Results Exception Report provides the ability to view information about an automated job(s), which includes records that failed to complete as part of the daily/nightly automation process. This report provides key information to focus on just those records that might require immediate attention. For example, when viewing the Exception Report for Recurring Billings, the Recurring Billing Name will be included along with a message(s) that the record could not post and comments on why the record could not post. The Recurring Billing Name is a hyperlink, which can be clicked to edit/view the actual Recurring Billing. That way, you can immediately determine what needs to be done in order for the Recurring Billing to post as part of the next daily/nightly automated scheduled jobs. 

The Automated Job Exception Report is available for the following automation jobs:

• Automated Email Billing
• Recurring Billing
• Recurring Journal Entry
• Recurring Payable
• Recurring Period Task
• Scheduled Post

Automated Job Results Dashboard

The Automated Job Results Dashboard is available from the Accounting Dashboard. The Dashboard shows the Automated Job Results by date and Schedule Job Type with the sum of each job that processed, succeeded, or failed. To view the full report, click the View Report (Automated Job Results Dashboard) hyperlink that displays at the bottom of the Dashboard. 

Configuration Changes/Requirements:

• The Automated Job Results tab needs to be configured. For more information, refer to the Automated Job Results Configuration Setup article. 
• To add this new component to the Accounting Dashboard, existing users should refer to the Add a new Dashboard Component section in the Management Reports and Dashboards article.

Return to top

Enhancements

Accounting Settings Enhancements

Additional Accounting Settings