BANK RECONCILIATION

BANK RECONCILIATION January 27, 1999 Bank Reconciliation  What is Bank Reconciliation?  Matching the system’s record of transactions with a bank’s record of these transactions. Reconciliation is done separately by each bank code (set up on FTMBANK) Two methods: Automatic and Manual   Automatic Reconciliation  Bank provides statement information on a disk, tape, or directly via ftp process  IT Department loads the bank statement information into the FABBKTP table  ASCII format , Comma-delimited  FABBKTP populates FAABREC form Manual Reconciliation Using FAABREC  Each bank is reconciled individually  Used when account activity is small  Enter bank statement information directly into form Reconciliation Procedures     Enter bank statement data on FAABREC Run FARBREC in Repeating mode Make any necessary changes to FAABREC Run FARBREC in Repeating mode (until all items are reconciled)  Run FARBREC in Final mode Deposits  Possible Sources  FGAJVCD - Journal Vouchers (J-doc) • Example: Rule Codes CR05, JE15, etc.  Accounts Receivable feed (F-doc) FGAJVCD - Journal Vouchers  Any JV with a rule code that affects a bank code and cash account will appear on the bank reconciliation  Most net to zero -- need no intervention  Make reconciliation report massive FTMSDAT Eliminate JE15 from Bank Rec Process       Entity/Usage Code Attribute Code Optional Code #1 Optional Code #2 Description Data       FABCHKA Event_Code OMIT1 D Omit from Bank Rec JE15 Reconciliation Procedures     Enter deposit data on FAABREC Run FARBREC in Repeating mode Make any necessary changes to FAABREC Run FARBREC in Repeating mode (until all items are reconciled)  Run FARBREC in Final mode Bank Reconciliation ???Any Questions???