Dale revealed on Monday morning that Accrington had granted them permission to open talks with a view to Coleman ending his 13-year association with Stanley and becoming Steve Eyre's successor at Spotland.
A statement released by League Two Accrington confirmed these talks were successful and the two clubs are now in the process of reaching a compensation agreement.
The statement read: "Accrington Stanley can confirm that manager John Coleman has agreed personal terms with Rochdale.
"A compensation package between the two clubs is currently being negotiated."
Rochdale are second-bottom of League One are have not won in six matches under caretaker boss Chris Beech, who stepped in when Eyre was sacked after six months at the helm in December.