Free License - Managing Configuration
The Configuration section in Settings allows administrators to set up system-wide reconciliation settings, including default tolerance rules and reporting currency. These settings establish the baseline configuration used across all reconciliation templates and instances unless overridden at the template level.
Note: Only Admin users can configure settings.
Configure System-Wide Settings
To set up system-wide reconciliation configuration:
Navigate to Settings > Configuration.
Configure the following settings
| Option | Description |
|---|---|
Default Tolerance Type |
Select how the tolerance threshold is calculated: Higher of Currency Amount or Percentage of Balance, Currency Amount, or Percentage of Balance. This determines which tolerance method is applied by default when reconciliation templates use the system default.
|
Default Tolerance Value |
Enter the default tolerance value. The threshold applied to reconciliations that use the system default. |
Percentage of Balance |
Enter the percentage of account balance to apply when percentage-based tolerance is selected. This percentage is applied at submission time based on the account balance at that moment. |
Reporting Currency |
Select the currency used for system-wide reporting and tolerance calculations. This currency is applied to aggregated reporting and is used as the default for reconciliations unless a different currency is specified at the account level. |
Default Tolerance [v26.3]
The Default Tolerance section allows administrators to set the tolerance thresholds and calculation methods applied to all reconciliations that use the system default setting. The tolerance defines the maximum unmatched balance permitted when a preparer submits a reconciliation for review.
The default tolerance setting applies globally across all reconciliation templates and instances. If a reconciliation template is configured to Use System Default, it inherits these tolerance rules at submission time and they are snapshotted as part of the reconciliation record.
Note: The tolerance value and type are snapshotted at submission and preserved as part of the reconciliation record. Changes made after submission do not affect reconciliations already in review or beyond.
These system-wide defaults apply to all reconciliation templates configured to Use System Default. When a template uses the system default, the current Configuration values are applied at the time of submission and are snapshotted as part of the reconciliation record.
Reporting Currency
The Reporting Currency section allows administrators to set the currency used for consolidated amounts across various dashboards and reports.
Note: If no exchange rates are loaded for the selected reporting currency, the dashboards display the message “Missing Rate”. Load exchange rates in Administration > Exchange Rates before using the Reporting Currency view.
Note: The Reporting Currency setting applies globally across all legal entities. It is not configurable per entity.