Overview

Reconcile is a dedicated place to compare live values from your GL against your supporting Google Sheet or Excel sub-ledgers.

Integration Setup

To link support workpapers from your file storage provider, head into Settings > File Storage and add a file storage provider accordingly.

Google Drive Scopes & Permissions

Connecting Google Drive requires granting access to the standard Google Drive and Google Sheet read scopes. This enables Numeric to access any sheet you provide a direct link to without requiring additional configuration by-file. Note: Numeric is not able to access, list, or otherwise download any file in your Google Drive without an explicit link to the file. Each workspace member also connects their own Google Drive account to link files, and in-app previews require individual access to the file in order to view the content within the application.

GL Balance

This is the balance coming directly from your general ledger. This value will automatically refresh every few minutes.

Rec. Balance

This is the balance coming from your supporting schedule. There are currently three ways you can add a reconciling balance.

1. Manual balance - simply enter in a value to the table or sidebar and submit! Oftentimes this is used in conjunction with adding a link to a pdf or other file that supports the balance.

2. Support Source - Link and pull out values from Bank Statement PDFs, Google Sheet and Excel files. Learn more about managing support sources here:📄 Managing Reconciliation Support Sources

Numeric will automatically refresh the balances from connected reconciilation sources every few minutes. However, users can also initiate a refresh on an individual support source in two ways:

1. Manager Sources - Within Manage Sources, you can hover over a connected workpaper and hit the refresh button.

   

2. Account Level Reconciliation Source - When you open the sidebar of an account reconciliation, you will see a section for "Reconciliation Sources" and a link to the connected workpaper. From here you can also access a refresh button.

   

Tasks, Assignment, Due Dates

Just like the checklist, reconciliation can be assigned on a recurring basis and with business day or calendar day offset due dates. Similarly, descriptions, comments, and links can all be added to a reconciliation.

Categories

Account reconciliations that are assigned a category will appear as a "Reconciliation" task within the Checklist.

Assigning a Category

You can assign a category either from the Reconciliation page or by clicking on the account name and adding a category in the sidebar. Below we show how to add on the Reconciliation page itself.

Removing a Category

To remove a category assigned to a GL account, hover over the assigned category and click the small red "x" that appears.

Variance Thresholds

Within the Reconciliation report, there is an option to set reconciliation thresholds by entity. To manage your thresholds, navigate to the three dots on the top right of the Reconciliation page and select "Manage thresholds":

From the Manage thresholds page, you will have the option to set a threshold as either a currency unit or % threshold by entity.

In addition to a threshold for the overall Reconciliation report, each account can have a separate variance threshold set. To set a specific account threshold, click on the account name to bring up the sidebar and then click on the Variance Threshold in the sidebar to set the account specific threshold.

AutoRec: Automated Reconciliation Submission

On any given account, you can enable AutoRec which will automatically submit the preparation of the reconciliation when the GL Balance and Rec Balance tie out within your set threshold.

1. Click on an account to bring up the account sidebar

2. Locate the "Automations" section in the Summary and click +Automation

3. Locate the "Automated Recon Preparation" card and choose "Enable" for the Preparer, Reviewer or Both

4. That's it!

Balance Monitoring & Automated Workflow Resets

Numeric will constantly monitor your accounts and automatically reset your reconciliation and notify you if the numbers no longe tie. For example, if a new journal entry is posted after you've reconciled an account, and that causes the GL balance to increase/decrease and no longer tie against your support — you will get a slack notification and we will reset the task requiring submission again. And, if you're on NetSuite we'll also point you directly to the new GL transaction(s) that caused the balance to change!

Inactive GL Accounts

Accounts that have been set to inactive in your general ledger will no longer appear in Numeric once they are unassigned, uncategorized and do not have any reconciliation sources connected (e.g., rollforward spreadsheets. Once those criteria are met, the inactive account will stop appearing in the subsequent period.

For example, if you inactive an account in January 2024 and your January 2024 period is open in Numeric you should:

1. Remove the assignees from that reconciliation in January 2024 within Numeric

2. Remove the categorization of that reconciliation so it will no longer be connected to your checklist

3. Ensure any support sources are not set to rollforward in the next period

Once these are completed, the inactive account will stop appearing in your Numeric reports beginning in the following close period. In the example above that would be the February 2024 period in Numeric.

Reconciliation Spreadsheet Templates

Looking for best practices? Take a look at our library of📄 Reconciliation Templates!