Reconciling transaction

This activity allows you to reconcile the transactions available in a bank statement and the bank book. Tell me more.

Select the “Reconcile Transactions” link under the “Bank Reconciliation” business component.

The “Reconcile Transactions” page appears.

Select the following field in the “Statement Information” group box:

Bank Account No.

Use the drop-down list box to select the code identifying the bank account for which you want to reconcile bank statements and the bank book. All the bank account that have been defined in the “Bank Cash Definition” business component for which the user has access rights will be available for selection in the alphabetical order.

The system displays the following:

Bank Name

The name of the bank.

Enter the following fields:

Statement No.

The number identifying the bank statement for which you want to reconcile the transactions (Alphanumeric, 6). The system retrieves all the unreconciled bank statements that are in the “Active” status

Note: If a date range has been entered in the “Start Date” and “End Date” fields, the system retrieves all the transactions that fall within the date range.

Start Date

The start date of the period for which you want to retrieve the transaction details of the account (Date Format).

Note: The date entered in this field must be before the date entered in the “End Date” field.

End Date	The end date of the period for which you want to retrieve the transaction details of the account (Date Format).
Finance Book	Use the drop-down list box to select the code identifying the finance book in which you want to raise the sundry payment voucher for Bank Charges. All the Finance Books mapped to the Organization Units loaded in the Transaction OU combo would be available for selection. The combo would be defaulted with Blank on launch of the page.
Bank Code	Use the drop-down list box to select the code identifying the bank code in which you want to raise the sundry payment voucher for Bank Charges. All the Bank Codes of the defaulted Bank Account Number and mapped to the Finance Books as loaded in the Finance Book combo would be available for selection. The combo would be defaulted with Blank on launch of the page.
Transaction OU	Use the drop-down list box to select the OU in which you want to raise the sundry payment voucher for Bank Charges. Sundry Payment OUs which are mapped to the Bank Reconciliation component of the login OU through CIM would be available for selection. The combo would be defaulted with Blank on launch of the page.
Cost Center	The code identifying the cost center to which Bank charges Account should be posted. Cost Center must have been defined in Cost Setup component and should be mapped with the bank charges account code.
	Help facility available.
Analysis Code	The analysis code to which the “Bank Charges Account” is mapped in the “Account Based Budgeting” business component .
	Help facility available.
Sub Analysis Code	The sub analysis code to which the “Bank Charges Account” is mapped in the “Account Based Budgeting” business component .
Sundry Payment Voucher	When raise bank charges is checked on reconciliation, bank charges is computed and a Sundry Payment Voucher in Paid status would be generated and displayed with data hyperlink. The data hyperlink would launch the View Sundry Payment Voucher Page. (State Based Control - would not be visible on launch of the page, visible only when a sundry payment voucher is generated on Reconciliation)

Click the “Auto Reconcile” pushbutton to reconcile transactions automatically.

The system automatically reconciles the transactions available in the bank statement and the bank book considering the following

Check numbers and transaction amounts
Pay-in-slips and transaction amounts.
Company References for Direct Debit Transactions and the Transaction Amount

However transactions with LC Number will be auto reconciled only if:

Transaction Type is Payment
Only one entry exists for the LC Number in both Bank Book and Bank statement multiline.
LC Number is not repeated in either Bank Book or Bank Statement multiline.
Amount is same in both the Bank Book and Bank statement multiline.

In case transactions with EFT No will be auto reconciled only if:

Transaction Type is Payment/Receipt
Amount is same in both the Bank Book and Bank statement multiline.

Else you can proceed with manual reconciliation of the transactions.

Enter the following fields:

Raise Bank Charges \ Interest

Check this box to allow the system to raise sundry payment vouchers for the difference in transaction amounts available in the bank statement and the bank book.

Click the “Get Details” pushbutton to retrieve all the unreconciled statement.

The system displays the following in the “Bank Statement” multiline:

Transaction Type	Indicates the type of the transaction. It could be “Payment”, “Check Payment”, “Receipt”, “Check Receipt”, “Interest Paid”, “Interest Received” or “Service Charges”.
Date	The date on which the transaction occurred.
Depositing Point	The code identifying the organization unit in which the transaction occurred.
Pay-In-Slip No.	The number identifying the pay-in-slip.
Check No.	The number identifying the check.
Amount	The transaction amount.

Enter the following field in the “Bank Statement” multiline:

Tag Group

A unique identifier denoting a tag group that can help in matching (Alphanumeric, 6). For example, if a transaction has been assigned a tag group <A> in the bank statement, it can be matched with multiple transactions that have also been assigned the same tag group <A>.

The system displays the following in the “Bank Statement” multiline:

Remarks	Any comments regarding the transaction type.
Company Ref./ LC Number/EFT No	The code identifying the company/ LC/EFT No that is involved in the transaction.
Statement No.	The Bank Statement No. in which the transaction details are created.

Check the box in the “Select” column of the “Bank Statement” multiline to mark the transaction type for reconciliation.

The system displays the following in the “Bank Book” multiline.

Transaction Type	Indicates the type of the transaction. It could be “Payment”, “Check Payment”, “Receipt”, “Check Receipt”, “Interest Paid”, “Interest Received” or “Service Charges”.
Date	The date on which the transaction occurred.
Depositing Point	The code identifying the organization unit in which the transaction occurred.
Doc. No.	The number identifying the transaction document.
Transaction OU	The OU in which the Bank Book transactions were created.
Check No.	The number identifying the check.
Amount	The transaction amount.

Enter the following field in the “Bank Book” multiline:

Tag Group

The system displays the following in the "Bank Book" multiline:

Remarks	Any comments regarding the transaction type.
Company Ref. / LC Number/EFT No	The code identifying the company/ LC/EFT No that is involved in the transaction.
Nature of Transactions	Indicates the nature of transaction which could be any one of the following - Check Payment, Payment, Check Receipt or Receipt.

If tag group is entered for both the bank statement and the bank book, there is no need to select the transactions manually for reconciliation. The system reconciles the transaction based on the tag group. Refer Matching List.

Enter the following field:

Remarks	Any remarks pertaining to the reconciliation of the transaction (Alphanumeric, 256).
Sundry Receipt No.	The Sundry Receipt No. auto generated for the Interest Received.

Note: Control is visible only when sundry receipt is generated.

Check the box in the “Select” column of the “Bank Book” multiline to mark the transaction type for reconciliation.

Note: The “Tag Group” field must be left blank in both the multiline if the bank book and the bank statement must be reconciled manually.

Click the “Reconcile Transactions” pushbutton to reconcile the transaction.

The system generates a unique reference number for every matched transaction and updates it against each transaction. The system stores the login ID of the user and the system date along with the reconciliation details.