Bank Reconciliation
Bank Reconciliation
Overview
The Bank Reconciliation process focuses on reconciling the Bank transactions which are imported from the Bank Statement with the relevant General Leger transaction in the Journal Voucher Item entity (Cash Book).
In the Financial System, when any transaction is posted against a Bank Account, the system creates a Journal Voucher which debits or credits the Coding Block related to the Treasury Bank Account (through the GL offset code). For example, when users create a Receipt Voucher when the money is deposited in a specific Treasury Bank Account against a revenue item, the system creates a Journal Voucher to debit the Bank Account Coding Block of the Treasury Bank Account (each Treasury Bank Account is linked to GL Offset Code which is by itself linked to Coding Block) to record the deposited amount, and the offset Credit side of the Journal Voucher is the revenue item.
At the same time, when the money is deposited in the bank, the bank records this transaction as Credit to the Bank Account i.e. the deposited amount is recorded as Debit in the Government’s books and Credit in the Bank’s books.
The objectives of Bank Reconciliation are to make sure that the JV entries related to the Bank Accounts in the Government’s books (in the above example the Debit amount of the JV) has been realized and recorded in the Bank’s books and vice versa.
Navigation
Treasury Management ► Bank Reconciliation ► Bank Reconciliation
Bank Reconciliation screen fields and Tab
| Fields | Description |
Reconciliation Source | Unique identification number will show after selection of reconciliation source. |
| Treassury Bank Account | The Treasury Bank Account for which the reconciliation is been done. |
Fiscal Year | Fiscal year related to Bank Reconciliation is to be made. |
Fiscal Period | Fiscal period name related to Bank Reconciliation is made. |
Bank Reconciliation Process
Overview
The Bank Reconciliation process is basically about reconciling the Bank transactions which will be imported from the Bank Statement with the relevant General Ledger transaction in the Journal Voucher Item entity (Cash Book).
Navigation
Treasury Management ► Bank Reconciliation ► Bank Reconciliation Process
Bank Reconciliation Process screen fields and Tab
Fields | Description |
Application ID | User-defined, unique ID. Code of transaction type contained in the Bank statements. Manually entered by users. |
Reconciliation Transaction Type | The type of the Journal Voucher used in transaction. The Possible values are Cheque, Deposit, and Adjustment etc. |
Reconciliation Type | Type of reconciliation can be selected from the dropdown list. It can be Manual or Auomatic. |
| Reconciliation Process Type | Type of reconciliation process can be selected from the dropdown list. |
Language | Users can lookup and select the country specific Language to register the abbreviation and description from drop down list. |
Description | Users can enter brief description of the reconciliation transaction type. |
Bank Statements
Overview
Bank Statement refers to the statement sent by bank showing the past transactions regarding deposits, withdrawals and standing balance as on the date specified.
Navigation
Treasury Management ► Bank Reconciliation ► Bank Statements
Bank Statement screen fields and Tab
| Fields | Description |
| Fiscal Year | Fiscal year to which Bank Statement relates. |
| Fiscal Period | Fiscal period to which Bank Statement relates. |
| Reconciliation Source | Reconciliation Source is to be selected which defines the Treasury Bank Account for which reconciliation process is carried on. |
| Treasury Bank Account | Treasury Bank Account for reconcililation is made. |
| Treasury Bank Account Number | Treasury Bank Account number for reconcililation is made. |
| Financial Institution Name | The name of the financial institute |
| Batch Number | Batch number of Bank Statement. |
| Start Date | Start date of bank statement. |
| End Date | End date of bank statement. |
| Opening Balance | Opening balance of account. |
| Closing Balance | Closing balance of account. |
| Total Debit | Total debit balance. |
| Total Credit | Total credit balance. |
| Bank Statement Fiscal Year | Fiscal year of the bank statement. |
| External Batch ID | External batch Id of bank statement. |
| Reference Number | Reference number of bank statement. |
| File Name | File name of Bank statement which is to be imported. |
| Imported By | By whom file is imported. |
| Import Date | Date of import of file. |
Error Log
Overview
This entity will be used to register failure messages that occur during the update process of Bank Accounts. The entity is updated from the processes and validations executed by the Web Service.
Navigation
Treasury Management ► Bank Reconciliation ► Error Log
Error Log screen fields and Tab
| Fields | Description |
Is Active | If it is checked, it indicates that records are available |
| Origin | Select the value from a drop down option |
Financial Institution | Display a list of values of available Financial Institutions name |
Creation Date | Date and Time in which the update failure occurs |
| Transaction Date | Browse for a bank statement file to import. It is a mandatory field |
| Error Code | Error code assigned by the system based on the error codes definition in valudation rules. |
| Error Description | Error description that corresponds to the code. |
Reconciliation Predefinied Transaction
Overview
The reconciliation transactions received through the bank statements will be able to be reconciled among bank statements only, is not needed to reconcile agains the JV records. In order to determine the reconciliation transaction type is necessary to predefine the combination of transaction types that are able to be reconciled by a user.
Navigation
Treasury Management ► Bank Reconciliation ► Reconciliation Predefinied Transaction
Reconciliation Prdefined Transaction screen fields and Tab
| Fields | Description |
Code | User-defined, unique ID. Code of reconciliation source. Manually entered by users. |
| Language | Country specific language used to enter the description information. Users can lookup and select language from drop down list. |
Abbreviation | The detailed description of the Reconciliation Predefined Transaction. |
Reconciliation Transaction Type for Debits | Display a list of values of Transaction type applicaton ID and Abbreviation. |
| Reconciliation Transaction Type for Credits | Display a list of values of Transaction type applicaton ID and Abbreviation. |
| Active | If checked, indicates that the Reconciliation Transaction Predefined is active and available for use. |
Reconciliation Source
Overview
A Reconciliation Source is the source that performs a Bank Reconciliation. The reconciliation of data can be performed by either a bank or a group of banks. Groups of banks are linked together by a common object code.
Navigation
Treasury Management ► Bank Reconciliation ► Reconciliation Source
Reconciliation Source screen fields and Tab
| Fields | Description |
| Code | Unique identification code manually entered by the user. |
| Reconciliation Source Type | Type of the Reconciliation Source whether it is from ‘Bank Account’ or ‘Object Code’. |
| Treasury Bank Account | Corresponds to the ID of the Treasury Bank Account. System will allow selecting Treasury Bank Account when type of Treasury Bank Account is "Physical". |
| Object Code | Automatically populated when user selects Treasury Bank Account. Value is the object code element of the coding block referenced by the selected Treasury Bank Account’s GL Offset Code. |
| Institution | The code of the ministry or office for which the reconciliation is done. |
| Language | Language used to describe Reconciliation Source. |
| Description | Description of Reconciliation Source. |
| Currency | Corresponds to the currency of the Treasury Bank Account. |
| Financial Institution | Display only field, automatically populated from Treasury Bank Account Id. |
| Branch Code | Display only field, automatically populated from Treasury Bank Account Id. |
| Bank Account | Display only field, automatically populated from Treasury Bank Account and reference to Bank Account entity. |
| Active | True by default, if user switches this to False, this record can no be used in future transactions other than just reference. |
Reconciliation Statement Import
Overview
Users will be able to import the detailed information from bank statements. This includes the bank account information, the deposits received by the bank, the checks cleared, service fees, interest and the bank adjustments. The file structure for the bank statement must confirm to the formats pre-defined. The import will consist of 2 import text files having file names ending with BANKHDR.txt and BANKITM.txt. The two files will be compressed together in .zip format for import into the application.
Navigation
Treasury Management ► Bank Reconciliation ► Reconciliation Statement Import
Reconciliation Statement Import Screen Fields and Tab
Fields | Description |
User | System user name will be displayed. |
Batch Number | First Batch number start with 1. Every time an import is succesfully finished, the system will increment this number by 1. |
Upload File | When the user clicks the ‘Choose File’ button, a file dialog window will be shown, allowing the user to select any file with an extension = “.zip”. |
Reconciliation Transaction Type
Overview
Transactions received through the bank statements gets identified by a Reconciliation Transaction Type. These types will identify the Journal voucher type to reconcile with automatically, and is also used to determine the JV template which will be used for any accounting entries that need to be created when the reconciliation process is executed.
Navigation
Reconciliation Transaction Type screen include the following fields:
| Fields | Description |
| Code | Code of transaction type contained in the Bank Statements which is manually entered by the user. |
| Language | Language used to describe Reconciliation Transaction Type. |
| Abbreviation | Abbreviation of transaction type contained in the Bank Statement. |
| Description | Brief description of the Reconciliation Transaction Type. |
| Transaction Type | Brief description of the reconciliation transaction type. Options are: Balance, Debit and Credit. |
| Journal Voucher Type | Journal Voucher Type is to be selected. Possible values: Adjustment, cheque, deposit, etc. |
Reconciliation among Bank Statement
Overview
This process intented to generate automatically a Bank Account Transfer Voucher originated from the Manual Bank Reconciliation process. This process will use two data set from bank statements, and will be for Domestic and Foreign Currency. This process also will be able to unreconcile the bank reconciliation items and to generate a reversal Bank Account Transfer Voucher.
Navigation
Treasury Management ► Bank Reconciliation ► Reconciliation among Bank Statement
Reconciliation among Bank Statement screen fields and Tab
Credit
| Fields | Description |
Fiscal Year | Fiscal year related to which Bank Reconciliation is to be made. |
| Financial Institution | Display a list of values of available Financial Institutions name. |
Reconciliation Predefined Transaction | Reconciliation transactions received through the bank statements will be able to be reconciled among bank statements only, is not needed to reconcile agains the JV records. |
Currency | The currency of the Reconciliation Source. |
| Treassury Bank Account | The Treasury Bank Account for which the reconciliation is been done. |
| Date From | Current Date from which the records will generate. |
| Date To | Date to which the records will generate. Should be greated than the current date |
| Is Recociled | If it is yes then it is recociled. |
Debit
| Fields | Description |
Financial Institution | Display a list of values of available Financial Institutions name. |
| Treasury Bank Account | System will show only Treasury bank accounts related to Financial Institution. |
| Date From | Current Date from which the records will generate. |
| Date To | Date to which the records will generate. Should be greated than the current date |
Reject Bank Statement Record
Overview
The purpose of this functionality is to allow the user to reject a group of bank reconciliation records received through the Bank Statement Web Service. The group of records must be filtered by bank and account. The screen will retrieve the records for those filters with the latest date received, no other previous date may be retrieved for rejection.
Navigation
Treasury Management ► Bank Reconciliation ► Reject Bank Statement Record
Reject Bank Statement Record screen fields and Tab
| Fields | Description |
Bank | Select the Bank from the existing list by clicking on the look up button. |
| Bank Name | Display the name of the selected Financial Institution. |
Treasury Bank Account | Treasury Bank Account Number existing in Bank Reconciliation entities for the Financial Institution. |
Financial Institution | Display a list of values of available Financial Institutions name. |
| Rejection reason | Short description. |
| Start Date | Date and Time in which the update failure occurs. |
Reports
Bank Reconciliation Report
Overview
The purpose of the "Bank Reconciliation Report" is to display a Bank Statement And Cash Book of the Reconciled transactions.
Navigation
Bank Reconciliation Report include the following fields:
| Fields | Description |
| Fiscal Year | Fiscal Year to which Bank Reconciliation relates. |
| Fiscal Period | Fiscal Period to which Bank Reconciliation relates. |
| Reconciliation Source | Reconciliation Source is to be selected. |
| Comment | Comment on the report is to be made in this field. |
Bank Reconciliation Summary Report
Overview
This report shows the data from the Journal Voucher Items that correlate to or not to a record (i.e is not reconciled) with a record in the Bank Reconciliation Items table, and also which Bank Reconciliation items that correlate or not with Journal Voucher Items. The JV Items and Bank Reconciliation Items are then grouped according to type to display the Deposits section, the Cheque section and the Adjustments section.
The purpose of the "Bank Reconciliation Summary Report" is to display the Current Balance in the Bank and Unreconcilled transactions and the calculated balance.
Navigation
Treasury Management ►Bank Reconciliation ►Report ►Bank Reconciliation Summary Report
Bank Reconciliation Summary Report screen fields and Tab
| Field | Description |
Fiscal Year | By default it shows the current fiscal year |
Financial Institution | It provides the User's Employee's Institution |
Financial Institution Branch | It provides the User's Employee's Institution branch. |
Treasury Bank Account | Name of the associated Treasury Bank Account |
Comment | Comment regarding the report. |
Bank Reconcilled Transactions Report
Overview
The purpose of the "Bank Reconciled Transactions Report" is to display a Bank Statement and Cash Book of the reconciled transactions.
Navigation
Treasury Management ►Bank Reconcilation ► Reports ► Bank Reconcilled Transactions Report
Bank Reconciled Transactions Report screen fields and Tab
Fields | Description |
Fiscal Year | By Default Shows the current Fiscal year. |
Period Range Type | Range for the report. Possible values are Daily, Monthly. |
Start Date | Start date of the transaction. By default, it show the current date. |
End Date | End date of the transaction. By default, it show the current date. |
Treasury Bank Account | Treasury bank account unique identification number. |
Rec Method | Reconciliation method i.e. Manual or Automatic. |
Reconciliation Batch Number | It show the batch number. Every time an import is successfully finished, the system will increment this number by 1. |
Comment | Comment related to the report. |
| Reconciliation Type | Different Reconciliation Type name. |
Bank Statement Report
Overview
The purpose of the "Bank Statement Report" is to display a Bank Statement sent by the bank.This report displays the data for the Bank Statements (Bank Reconcillation And Bank Reconcillation Item)
Navigation
Treasury Management ►Bank Reconcilation ► Report ► Bank Statement Report
Bank Statement Report screen fields and Tab
| Field | Description |
Fiscal Year | By default shows the current fiscal year. |
Period Range Type | It is a closed domain whose possible values are (Daily, Monthly). |
Start Date | Start date of the bank statement . |
End Date | End date of the bank statement . |
Treasury Bank Account | Name of the associated treasury bank account |
Comment | Comment related to the report. |
Bank Transaction Summary Report
Overview
The purpose of the "Bank Reconciliation Summary Report" will display the current balance in the bank and unreconciled transactions and the calculated balance.
Navigation
Bank Transaction Summary Report include the following fields:
| Fields | Description |
| Fiscal Year | Fiscal year to which the bank transactions relate. |
| Fiscal Period | Fiscal period to which the bank transactions relate. |
| Reconciliation Source | Reconciliation Source is to slected for which the report is to be generated. |
| Comment | Comment on the report is entered in this field. |
Bank Unreconciled Transactions Report
Overview
Navigation
Treasury Management ►Bank Reconcilation ► Reports ► Bank Unreconcilled Transactions Report
Bank Unreconciled Transactions Report screen fields and Tab
Fields | Description |
Fiscal Year | By Default Shows the current Fiscal year. |
From Date | From date should be the transaction date or less than the transaction date. |
To Date | To date should be the transactions date or greater than the transaction date. |
Treasury Bank Account | Treasury bank account unique identification number. |
| Reconciliation Type | Diffrent Reconciliation type name. |
| Comment | Comment related to the report. |
Cash Book Unreconciled Transaction Report
Overview
The purpose of the Cash Book Unreconciled Transactions Report is to display the unreconiled transactions from the Cash Book.
Navigation
Treasury Management ► Bank Reconciliation ► Reports ► Cash Book Unreconciled Transactions Report
Cash Book Unreconcield Transaction Report Screen Fields and Tab
Report Field | Description |
Fiscal Year
| Default Current Fiscal Year. Can select from the dropdown menu |
From Date | By default system date will show. It should greater than equal(>=) to date of approval. |
To Date | By default it show current system date, It should not higher than the current system date. To date should be less than equal to(<=) "To date". |
Treasury Bank Account | Treasury bank account unique id. |
Comment | Comment related with the report. |
Transaction Type | Transaction type used to sort the report information. |