reconciliation_skill

Overview

This skill helps reconcile accounts by comparing GL balances to subledgers, bank statements, or third-party data to identify, categorize, and resolve reconciling items. It guides bank reconciliations, GL-to-subledger matches, and intercompany reconciliations with practical processes and escalation points. Use it to standardize workflow, document findings, and speed close procedures without providing financial advice.

How this skill works

The skill inspects control account balances in the general ledger and compares them to detailed source reports (subledger, bank statement, intercompany schedules). It classifies differences as timing items, required adjustments, or items needing investigation, and produces aging, trend, and escalation guidance. It also recommends actions: prepare journal entries, follow up on outstanding items, or escalate based on thresholds.

When to use it

• Monthly close to reconcile GL control accounts to subledgers (AR, AP, inventory, fixed assets)
• Bank month-end or interim bank reconciliations
• Intercompany balance confirmation and elimination preparation
• When reconciling software interfaces or investigating unexplained variances
• To categorize reconciling items and generate aging and escalation lists

Best practices

• Complete reconciliations promptly (typical T+3 to T+5 business days after period end)
• Document preparer, reviewer, date, and clear explanations for each reconciling item
• Segregate duties: reconciling preparer should not post transactions to the same account
• Track open items to resolution and perform root-cause analysis for recurring differences
• Standardize templates and retention schedules to support audits and trending

Example use cases

• Compare AR control account to customer subledger aging and identify unapplied payments or timing differences
• Perform bank reconciliation: adjust for deposits in transit, outstanding checks, bank fees, and interest
• Reconcile intercompany receivables/payables between two entities and flag FX or cut-off mismatches
• Create aging report for outstanding reconciling items and escalate stale items over 90 days
• Analyze trend of total reconciling items over multiple periods to detect process breakdowns