Reconciliation

How to Reconcile an Cost-Center in MyNSM Finance

Reconciliation is the process of comparing transactions and activity to supporting documentation. It involves resolving any discrepancies that may have been discovered.

The process of reconciliation ensures the accuracy and validity of financial information.

  • Under Ledger menu, click on Reconciliations

  • Provide a Cost Center and click on the "Show Reconciliations" button

  • If the Cost Center reconciliation has not been started, Click "Create New Reconciliation" otherwise click "Resume Open Reconciliation"

  • Provide the Ending Balance and Statement Ending Date. The Beginning Balance is carried forward from previous reconciliation ending balance.

  • When you click on Save, your transactions will be listed under Charges or Deposit and Credit. Click on the preceding checkbox to indicate that the transaction has been reconciled.

  • Previously reconciled months are available in PDF files.