Purpose
This collection of reference guides is intended for the Bank Statement Specialist and Reconciliation Specialist to create a new bank statement and execute a bank reconciliation.
Action
· Create a New Bank Statement.
· Submit the Auto Reconciliation Process.
· Review the Auto Reconciliation Process Results.
· Perform the Manual Reconciliation Process.
Terminology
· Bank Statement Reconciliation: The process of matching bank statement lines to related system transactions in Payables, Receivables, General Ledger, and Cash Management.
Create a New Bank Statement
1. Login using Company Single Sign-On to access your Oracle account.
2. Navigate and select the Cash Management module.
3. Select Bank Statements and Reconciliation.
4. Select the Taskbar.
5. Select Create Bank Statement under Bank Statements.
6. Enter Bank Account, Period Start Date, and Period End Date from your Bank Statement. Enter the Statement ID using the final day of the statement period in YYYY-MM-DD format.
7. On the Balances tab, enter the opening amount of your statement on the Opening booked (OPBD) line and the closing amount on the Closing booked (CLBD) line.
8. Navigate to the Statement Lines section.
9. Click the Plus symbol to create the first statement line.
10. Enter the bank statement transaction date as the Booking Date and enter any unique identifying numbers from the bank statement line in the Reconciliation Reference field.
11. Select the appropriate Transaction Code from the dropdown menu and select the Flow Indicator: (Credit for cash inflows, Debit for cash outflows) and enter the Amount.
12. Select Create Another and repeat the process for all bank statement lines.
13. When all bank statement lines have been entered, select OK.
14. To confirm the total dollar amount of bank statement lines matches the difference between opening balance and closing balance, select Save.
15. After saving, the Balance Check field appears in the bank statement header. If the balance check is not 0.00, correct the bank statement lines until they reflect the change in balance.
16. When the Balances Check is 0.00, select Save and Close.
You have now completed the process of Creating a New Bank Statement.
Submit the Auto Reconciliation Process
1. Login using Company Single Sign-On to access your Oracle account.
2. Navigate and select the Cash Management module.
3. Select Bank Statements and Reconciliation.
4. Select the Taskbar.
5. Select Autoreconciliation under Reconciliation.
6. Select Bank Account, Statement ID, and remove From Statement End Date & To Statement End Date.
7. Select Submit.
You have now completed the process of Submitting the Auto Reconciliation Process.
Review the Auto Reconciliation Process Results
1. Login using Company Single Sign-On to access your Oracle account.
2. Navigate and select the Cash Management module.
3. Select Bank Statements and Reconciliation.
4. Scroll to the bottom of the Overview page, select the Refresh icon in the Process monitor area until the status of the process become Succeeded.
5. Select the Incomplete tab under Bank Statement Reconciliation.
6. Select the drop-down arrow near the Search region.
7. Select Bank, Bank Branch, or Bank Account.
8. Select Search.
9. Select the drop-down arrow near the bank account folder.
10. View the Processing Status under the Automatic Reconciliation columns. Transactions not satisfying auto reconciliation rules require manual reconciliation.
You have now completed the process of Reviewing the Auto Reconciliation Process Results.
Perform the Manual Reconciliation Process
1. Login using Company Single Sign-On to access your Oracle account.
2. Navigate and select the Cash Management module.
3. Select Bank Statements and Reconciliation.
4. Select the Taskbar.
5. Select Manual Reconciliation under Reconciliation.
6. Select Bank Statement Line and System Transactions.
7. Select Bank Account, Date, or Reference.
8. Select Search.
9. Select one or more bank statement line transactions on the left side of the screen. Search terms can be used to filter results on both the Bank Statement and System Transaction tables.
10. Locate and select one or more matching system transactions on the right side of the screen.
11. Verify the difference is 0.00 and select Reconcile.
12. Reconciled transactions can be reviewed by selecting the Reconciled tab and using Search. If transactions were reconciled as many-to-one, one-to-many, or many-to-many, the transactions will appear as part of the same Reconciliation Group.
You have now completed the process of Performing the Manual Reconciliation Process.