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How to Configure Automatic Bank Reconciliation

How to Configure Automatic Bank Reconciliation By Kris Olson

Editor’s Note: Auto Bank Reconciliation has been available since release 8.11, but has not been

widely implemented. This article offers an overview of the functionality that currently exists in 9.2, which

has not changed greatly since 8.11. It provides an overview of the process, including what it does and does not

do, then details the setup steps and walks us through the process soup to nuts.

Introduction

Pity the clerk who is responsible for bank reconciliations in an organization. It lacks the glamour of

check processing and offers no thrills like those enjoyed by Receivables clerks. Bank recs are not a

mission critical process, but they do have to get done, and get done right. Yet I believe nobody has

ever been promoted up through the ranks on the success of their bank reconciliations, probably

because most people do not even know exactly what a bank reconciliation is.

This functionality was introduced way back in release 8.11 but does not seem to have been widely

embraced by the JDE customer base. One reason may be that many customers have developed

their own in-house applications or purchased third party software to handle bank recs. Another may

be that the functionality offered is simply not robust enough and they stick with a manual process.

Or perhaps this unsexy business improvement project just never makes it to the top of the pile.

In any case, the JDE Auto Bank Rec function is fairly easy to configure and does work well. Its

major limitation is that it does not handle the reconciliation of EFT payments, but beyond this the

functionality is quite good and is certainly worth exploring.

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How to Configure Automatic Bank Reconciliation

The following documents can be found on the Oracle Support Site and should be reviewed in

conjunction with this paper before embarking on a project to implement Auto Bank Reconciliation:

Overview of Automatic Bank Statement Reconciliation (Doc ID 2097234.2)

Frequently Asked Questions Regarding Automatic Bank Statement Rec (Doc ID1624573.1)

Like any new functionality being implemented, the first step is to contact your CNC department to

ensure that all outstanding bug fixes have been applied to your environment for the objects being

used. Not being code current nearly always results in unnecessary testing issues and delays.

I have used version 9.2 on a web client for the screen shots that appear in this article. If you are

on a previous release, the majority of the information here will apply since the functionality has not

changed significantly across the releases.

In this paper I will review not only the detailed steps required to set up Automatic Bank

Reconciliation and detail some of the features, but also common issues you are likely to

encounter.

The Auto Bank Rec Process

The basic process for Auto Bank Rec is as follows:

1. Import flat file of bank transactions into JDE staging table.

2. Review data in staging table, making adjustments as required.

3. Import staging table data into bank statement table.

4. Review data in bank statement table, making adjustments as required.

5. Revise transactions without a customer number.

6. Process bank statement, which will reconcile bank transactions to JDE transactions,create journal entries for payment and receipt variances, as well as taxes, bank fees andtransfers, and also create offsetting journal entries as required.

7. Review and post the created batches.

8. Manually reconcile transactions that did not match or are missing.

9. Purge data in staging table and bank statement table.

The standard menu for automatic bank recs is found at G09212 and is comprehensive – see

Figure 1. The only modification you may wish to make is moving the Process Electronic Bank

Statements to the top of the menu instead of the bottom of the menu where JDE has it, as this is

the first step of the process.

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