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14. Reconciliation Summary

Entering the ledger balance and clearing any variance

Here you will be presented with a summary of your reconciliation. It is populated from the information gathered on the previous steps, with one column per currency.

This is step 14 of 15. For an overview of the whole process, see Introduction.

Reconciliation Summary

The balance on your Lenders debtor control account should be added under Ledger Balance as per the statement. It is the only figure you enter on this page.

Everything above it comes from your uploaded data, and everything below it comes from the earlier steps:

Row on the summary Where it comes from
Gross Receivables Ledger Your uploaded ledger data.
Non Notified Transactions The debtors and transactions you non-notified on steps 4 and 5.
Total Discounted Debt Gross Receivables Ledger less Non Notified Transactions.
Discounts, Adjustments, Write Offs The items you included on step 9.
Invoices in Transit, Credit Notes in Transit The items you marked in transit on step 10.
Cash in Transit (two rows) The entries you added on step 11, split by type.
Reconciling Debt Items, Reconciling Credit Items The debits and credits you added on step 12.

The rows between Timing Differences: and Revised Balance are added to the Ledger Balance you entered, which gives the Revised Balance. The Variance beneath it is the difference between that Revised Balance and the Total Discounted Debt, so a reconciliation that balances shows 0.00.

The Reconciliation Summary table with Gross Receivables Ledger, Non Notified Transactions and Total Discounted Debt at the top, the editable Ledger Balance row, the timing differences, and the Revised Balance and Variance beneath, in GBP and EUR columns

Entering the Ledger Balance updates the Revised Balance and the Variance.

Please note

Any variance will be calculated below the Revised Balance. Should your Revised Balance result in a variance, you can select any of the previous steps to review or change the values added. See How to resolve a variance in your Month End Reconciliation summary.

Other Reserves

Entries made on 13. Other Reserves do not appear here. They sit alongside the reconciliation and do not affect the variance.

Select Continue to confirm your changes.

Next step

Please see our article 15. Preview (Submitting the MER) to continue.

See also:

If you run into any issues during this process, please raise a ticket with our support team.

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