How to Post Manual Adjustments

Posting Manual Adjustments

You can insert a new adjustment when the statement does not reconcile. To post manual adjustments, navigate to Finance > Daily Reconciliation in the left sidebar. Scroll to the New Adjustment card at the bottom of the Overview tab and:

Select a Currency from the Currency dropdown.
Enter an Amount.
Enter a Comment (optional). Kooltra recommends that you add a descriptive comment for auditing purposes.
Enter a Group. Adjustments can be categorized and grouped together.
Click Add.

Ideally, the bottom line (reconcile row) of your Daily Reconciliation report would net out to 0.00 and you would not need to post any adjustments. However, this is not always the case, and the daily reconciliation report should be adjusted to account for missed information. These adjustments may not necessarily be missing transactional data, but may be adjustments such as payroll.

Nostro Tab

The Nostros tab lists all the bank accounts in your entity, and their End of Day (EOD) currency-specific balance. You can use this tab to reconcile the EOD balance with the actual amount you have in your bank accounts. To access the Nostros tab, navigate to Nostros in the top-menu.

If there are any differences in your records, enter the actual balance in the Adjusted Balance column. Repeat this for every nostro account. Once you have entered the Adjusted Balances, scroll down to the bottom of the page and click Update. If the update is successful, a message beside the Update button will say "Balances are updated successfully". The difference column will then show the difference between the EOD balance and adjusted balance.

Note that if you refresh the page, the EOD balance will be set to the Adjusted balance amount and the Difference will go back to 0.00.

If any of your nostro accounts had differences, these differences will now be posted in the Balance Adjustment column of the Daily Reconciliation Overview.

Rates Tab

Kooltra allows you to adjust the accounting rates that were used to calculate equity in daily reconciliation. To do this, navigate to the Rates Tab in the top menu bar.

The rates page lists the accounting rates that were used to convert each currency into the entity base currency. If these rates need to be updated, you can enter the new rate in the New Rate column. Updating the new rate will automatically calculate a Translation Gain/Loss (Translation G/L) and update the Additional Translation G&L in the Adjustments Summary card on the right.

To capture the Additional Translation G&L, click the Apply button in the Adjustment Summary card. This will move the Additional Translation G&L amount into the Translation G&L and reset Additional Translation G&L to 0.00.

If you would like to use the market rates instead of the accounting rates to calculate the equity, scroll down to the bottom of the page and click on the Update to Market Rate button.

Results Tab

The results of the Daily reconciliation process are generated in the Results Tab. To access them, navigate to Results tab in the top menu bar.

The results tab summarizes information that you would see on a typical balance sheet such as total assets, total liabilities and equity for cash and for line items. This result can be emailed out to relevant contacts by checking off the respective contacts and clicking on the Send Report button.

Files Tab

Files pertaining to each of the steps of the Daily reconciliation process can also be accessed by navigating to the Files tab in the top menu. See the article Daily Reconciliation Files for information pertaining to each of the files generated.