Bank Reconciliation
Bank Reconciliation Overview
The Bank Reconciliation module provides an automatic solution to the process of reconciling bank accounts. The main features of the module are:
Bank Reconciliation Menus Explained
Read this article to understand the Bank Reconciliation menu structure.
Bank Reconciliation Company Controls
The Bank Reconciliation Company Controls define the Balance Classes and Batch Types to be used during Bank Reconciliation Processing and identify the default transaction date to be used for reversing adjustment postings during the unmatching process.
Bank Reconciliation Code Tables
Before Bank Statements can be loaded into Financials, it is essential that the following topics are understood on what Financials setup is pre-configured for ease of use and where setup is required, based on requirements.
Transaction Types and Sub Types
The Bank Transaction Type Table categorises Bank Statement transactions and identifies the source of the reconciliation code to be used in the Bank reconciliation process. The transaction type and sub-type are taken from the Bank Statement take-on file.
Bank Reconciliation Enquiries
The Bank Reconciliation System provides you with two different summary Bank Reconciliation enquiries – the Reconciliation Summary and the Reconciliation Enquiry Summary.
Bank Reconciliation Reports
The Bank Statement Report Process produces a suite of reports that mirror the Summary and Detailed Enquiry screens
Manual Bank Reconciliation
The manual bank reconciliation facility can be used to reconcile any bank and Cash Book transactions that cannot be reconciled via the automatic bank reconciliation process.
Bank Reconciliation Take-on
The Bank Statement Take-on process is used to import electronic Bank Statement files into the General Ledger
Unmatching Transactions
The unmatching process allows users to reverse the reconciliation process for reconciled transactions. This functionality will be useful if a user has incorrectly matched transactions or perhaps, where a match has been made assuming a future bank adjustment, but a GL adjustment is required.
