Table of Contents

Reconciling Journal Entries

Jennifer Sneider Updated by Jennifer Sneider

All Asset Hub users can access this feature.  

While reconciling Transactions from a financial ledger, you may come across multiple Transactions for the same recoverable Asset. These Transactions may have the same name, however they will be coded as a Journal Entry, or "JE." 

Journal Entries are created on a financial ledger when an Asset is moved from one department or sub-department to another. The accountant will code the Asset moving out of one department as a negative amount and moving into a different department as a positive amount.


Reconciling Journal Entries as New Assets 

  1. Click Transactions in the left navigation bar.
  2. Click the Choose Columns button and make sure Source Code is selected.
  3. Click the caret (^) to the right of the Source Code column header to sort the column so that Journal Entries "JE" are at the top.
  4. Use either the column filter or click the Asset Name header to locate all similar transactions.
  5. Use the checkboxes on the right hand side to select each Journal Entry and the corresponding original purchase. Original Purchase may have the Source Code "AP" or "PC."
  6. Click Bulk Options > Bulk Reconcile > Create Asset.
  7. In the pop-up window, include information about your Asset and click Create Asset. Disposition is a required field and is marked with an asterisk (*). 
  8. A green notification will appear at the bottom of the screen to confirm that the Asset has been successfully created. 

Reconciling Journal Entries to Existing Assets 

  1. Follow steps 1-4 above. 
  2. Use the boxes on the right hand side to select each Journal Entry that you want to reconcile. 
  3. Click Bulk Options > Bulk Reconcile > Match - Existing Asset(s). This will allow you to match the selected Transactions to existing Assets.
  4. On the next page, use the column filters to find the existing Asset(s) you would like to match to your Journal Entries.
  5. When you find the Asset(s), select them using the checkboxes on the right-hand side. 
  6. When you are satisfied with the match, click Match.
  7. A notification will appear at the bottom of the screen to confirm that the Transactions have been successfully matched to the selected Assets.

How did we do?

Reconciling Single Transactions as Assets

Handling Returns

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