To reconcile your bank account activities with the Treasury payments and receipts you must define your import sources and reconciliation process.
A reconciliation pass defines the columns and the criteria used to reconcile Treasury transactions against line items from imported bank statements.
For each reconciliation pass, select a set of columns you want to use to reconcile your Treasury transactions and the logic, or criteria, that you want to apply to those columns. For example, to reconcile Treasury transactions against a bank statement exactly, in the Reconcile on Column field select Amount and in the Reconcile Criteria field select Criteria Must Match.
Note: The list of available reconciliation criteria varies depending on the column selected.
To define effective and reusable reconciliation passes, separate your comprehensive and less comprehensive reconciliation criteria into different reconciliation passes.
In the Reconciliation Passes region of the Import Sources window, enter a pass code and description for the reconciliation pass.
In the Reconcile On Column field, select the columns that you want to use as criteria for your reconciliation.
In the Reconcile Criteria field, select the criteria by which you want to reconcile each column. The list of available criteria differs depending on which column you selected.
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A reconciliation method defines which reconciliation passes you want to use to perform reconciliation and the order by which you want to run those passes. It also defines the type of reconciliation that you want to perform. For retail term money deals, you can set the number of days that you will tolerate receipts before you send dunning letters.
You can define a different reconciliation method for each import source, or you can use the same method for several sources. When you change settings in a reconciliation method you affect every source that uses that method, so if you change a reconciliation method ensure that your changes will not have a negative impact on the import sources that use that method.
Set up reconciliation passes. See: Defining Reconciliation Passes
In the Reconciliation Methods region of the Import Sources window, enter a pass code.
In the Seq field, enter the order by which you want Treasury to perform the reconciliation methods.
If you are defining a reconciliation method for retail term money deals, in the Days Adjust field, indicate the number of days of tolerance that you want to allow before you want to start sending dunning letters for the outstanding amount.
Note: Treasury does not generate dunning letters. The Days Adjust field simply provides a tolerance range that you can use to determine when you should start sending dunning letters.
If you require that a user verify the match before the reconciliation is confirmed, in the Manual Verification field select Required. If you do not required user verification, select Not Required.
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Use the Import Sources region of the Import Sources window to define import sources for your bank statement information such as an EDI (Electronic Data Interchange) system. Also, use this region to define an import source when a single regular payment for multiple transactions is made to a bank account. For example, you can define Payroll as an import source if your payroll pays a single amount to your treasury account to cover monthly payments for several staff loans.
Establish at least one reconciliation method. See: Defining Reconciliation Methods
In the Source Name field of the Import Sources region of the Import Sources window, enter a name of an import source. In the Rec Method field select a reconciliation method.
Select a company name.
Select the bank account number and currency associated with the source.
In the Trailer Record region, select one of the following:
Verify Control Total: Verifies the control total and ensures the accuracy of the import.
Transfer: Indicates if the totals are to be transferred as a reconcilable item.
Reverse: Reverses totals if they are being transferred. For example, a script from payroll includes a total for the amount to be credited to the account. To balance, this total must be included in the transfer and reversed so that the single figure on the bank statement can be reconciled against the total. The individual amounts in the transfer are reconciled against the individual amounts in Treasury.
If the imported amounts include a decimal point, select the Amounts Include Decimal Point check box.
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You can view the structure of each reconciliation pass in a reconciliation method view using the Reconciliation Matrix region of the Import Sources window.
Define an import source. See: Defining Reconciliation Import Sources
In the Import Sources window, select the Reconciliation Matrix tab region. The matrix shows each pass in the reconciliation method, each column that is reconciled, and the criteria used to reconcile each column.