Cash Management maintains information for each bank statement you want to reconcile. You can use the Cash Management Bank Statement Open Interface to load bank statement information supplied by your bank, or you can enter and update bank statements manually. The system retains all bank statement information for audit and reference purposes, until you purge it.
Each Cash Management bank statement is composed of one bank statement header and multiple bank statement lines. The bank statement header identifies the statement number, bank account number, and statement date. It also contains optional information including the bank and branch names, bank account currency, and control amounts.
Note: If a bank gives you multiple account information on a single bank statement, you must enter a separate Cash Management bank statement for each bank account, for the specific statement date.
Bank Statement Lines
A bank statement line can refer to one or more payments, receipts, miscellaneous transactions, open interface transactions, or journal entry lines. Each line has a line number, transaction type, date cleared (bank transaction date), and amount. Optional line information includes the bank transaction code, number, bank transaction identifier (such as the payment or deposit number), currency information (currency code, original amount in transaction currency, exchange rate), value date, agent (customer or supplier), agent bank account, a comment, and a descriptive flexfield for user-defined additional information.
A bank statement line's status can be one of the following:
Reconciled: Some transactions have been matched against this line. The statement line may not be fully reconciled.
Unreconciled: No transactions have been matched.
Error: This status is a warning that the line cannot be reconciled because of a bank error in the statement that cannot be resolved. You must manually mark the statement line as Error. The transaction remains unreconciled because there is no corresponding transaction to which the line can be reconciled.
External: The line does not correspond to any transaction in General Ledger, Payables, Receivables, Payroll, or the Reconciliation Open Interface, but corresponds to a transaction in another system. You then manually mark the statement line as External. Cash Management treats it as reconciled.
Bank Statement Error Reconciliation
You can efficiently manage bank errors. You can automatically or manually reconcile correcting statement lines against error statement lines, thereby providing an audit trail you can use to verify correction of bank errors.
For example, if your bank erroneously records a $50 payment as $500, your bank statement may show three statement lines for $500, <$500>, and $50. You can reconcile the <$500> correction against the $500 error statement line, and the $50 statement line against the original payment.
Bank Statement Transaction Codes
Bank statement lines are coded to identify the type of transaction the line represents. Since each bank might use a different set of transaction codes, you need to map each code a your bank uses.
Each Cash Management bank statement is composed of one bank statement header and multiple bank statement lines. The bank statement header identifies the statement number, bank account number, and statement date. It also contains optional information including the bank and branch names, bank account currency, and control amounts.
Note: If a bank gives you multiple account information on a single bank statement, you must enter a separate Cash Management bank statement for each bank account, for the specific statement date.
Bank Statement Lines
A bank statement line can refer to one or more payments, receipts, miscellaneous transactions, open interface transactions, or journal entry lines. Each line has a line number, transaction type, date cleared (bank transaction date), and amount. Optional line information includes the bank transaction code, number, bank transaction identifier (such as the payment or deposit number), currency information (currency code, original amount in transaction currency, exchange rate), value date, agent (customer or supplier), agent bank account, a comment, and a descriptive flexfield for user-defined additional information.
A bank statement line's status can be one of the following:
Reconciled: Some transactions have been matched against this line. The statement line may not be fully reconciled.
Unreconciled: No transactions have been matched.
Error: This status is a warning that the line cannot be reconciled because of a bank error in the statement that cannot be resolved. You must manually mark the statement line as Error. The transaction remains unreconciled because there is no corresponding transaction to which the line can be reconciled.
External: The line does not correspond to any transaction in General Ledger, Payables, Receivables, Payroll, or the Reconciliation Open Interface, but corresponds to a transaction in another system. You then manually mark the statement line as External. Cash Management treats it as reconciled.
Bank Statement Error Reconciliation
You can efficiently manage bank errors. You can automatically or manually reconcile correcting statement lines against error statement lines, thereby providing an audit trail you can use to verify correction of bank errors.
For example, if your bank erroneously records a $50 payment as $500, your bank statement may show three statement lines for $500, <$500>, and $50. You can reconcile the <$500> correction against the $500 error statement line, and the $50 statement line against the original payment.
Bank Statement Transaction Codes
Bank statement lines are coded to identify the type of transaction the line represents. Since each bank might use a different set of transaction codes, you need to map each code a your bank uses.
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