Automatic upload
Auto bank reconciliation allows bank statement to be uploaded from a file, which is generated by the bank through an online facility. Different formats and programs are available for download for different banks. GLO121 BAI (Bank Administration Institute) becoming global standard. The following bank statement upload programs are currently available.
- Commonwealth bank upload
- National bank upload
- New Zealand bank upload
- Westpac bank upload
- ANZ bank upload
- BAI statement upload
- FNB bank upload
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 print showing the number of transactions successfully uploaded. For example: SUMMARY: 18 records successfully uploaded from bank statement file.
Bank statement print
When the bank upload is complete, this program is used to print Bank Statement report. This is only a statement print at this stage. Nothing has been posted to the general ledger. If the upload is not correctly mapped for bank reconciliation then review control settings (TMSBK/XXX-TRC*) and rerun the upload.
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 or remain on the bank statement side un-posted to await journals from AR to AP.
Bank file inquiry
Bank File Inquiry can optionally be used to review transactions in Bank Rec file.
Bank Reconciliation report
Bank Reconciliation report (GLR340) is run to review any mismatched entries.
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.
Work with Bank Reconciliation
This program allows you to link/allocate existing Bank side entries with GL side entries in the Bank Rec file. You can also create and link new GL journals on the fly if required. This is particularly useful for cases where the GL entry does not exist yet for a bank transaction.
