Automating Bank Reconciliation with Cash Management

How Oracle Cash management Works in Automating Bank Reconciliation:

Step 1: Work with Bank for Automatic reconciliation process

·         Let your bank know that you plan to automate their reconciliation process. Do the paper work & their approval process. Obtain certain things from bank

• A Sample File
• Transaction Codes 
•  Bank Statement Mapping

Step 2: Set up Bank Account & Branch name in Accounts Payable Module

Step3:  Setup Transaction Codes Provided by Bank in Cash Management Module

Step4: Map your bank statement Information (from Bank) against the right accounts in Oracle

Step5: Bring Sample file into Oracle

• Bank Statement Loader Program: Bring your technical guys to use this program & bring this files into Oracle 
•  Bank Statement Import Program: To bring this file information directly into Oracle Cash Management

Step 6: Run Auto Reconciliation Program

• The Program reconciles the imported Bank Statement lines to the outstanding AP & AR transactions 
• If the program doesn’t find a match, it marks the bank statement line with an error and allows you to manually address that transaction 
•  The Program creates an auto reconciliation execution report that shows the exceptions & Provides descriptive reasons why the line was not able to be reconciles automatically