Automatic upload – There are no manual entries of the bank statement. The bank statement will be uploaded from a file, which is generated by the bank through an online facility.
Error report – An error report is generated in the spool file from the automatic upload process. This indicates a list of transactions received from the bank that could not be uploaded correctly.
An error message is shown after each transaction suggesting a fix for that error. For example:
Error ***Transaction not defined in Control File.
Warning ***No Bank Key found on Source of bank key. Journal no. for Bank Group generated as Bank Key.
All errors must be fixed to complete a successful upload. The configurations of control files may need to be changed to capture new and unexpected transactions. Finally a summary prints showing the number of transactions successfully uploaded. For example:
SUMMARY: 18 records successfully uploaded from bank statement file.
Bank statement print – This report shows the bank file transactions by entry date that have been selected and allocated to the company by bank account for reconciliation. This is only a statement print at this stage. Nothing has been posted to the general ledger.
The statement report can be printed by report group. A report group is defined on the transaction definition control file. Transactions can be grouped together by report codes. Foe example A, B and then sent to separate departments within the company. For example: Report code A could list all deposits. This report can be sent to Accounts Receivable to be keyed in and reconciled.
Post to General Ledger – The first 3 steps of automatic bank reconciliation can be run without being posted to the general ledger. Once the statement report has been run and checked, this option can be run to post the amounts to the general ledger accounts defined or remain on the bank statement side un-posted to await journals from AR to AP.
Accounts Receivable to bank rec interface – ARO140 – This is the automatic process to analyse input to debtors and post directly to general ledger either to a bank or clearing account. Deposits processed though AR are journaled by batch number. This process should be included in your EOD
- Commonwealth bank upload
- National bank upload
- New Zealand bank upload
- Westpac bank upload
- ANZ bank upload
- BAI statement upload
- FNB bank upload
- Bank statement print
- Bank reconciliation report
