Reconciling Multiple Bank Statment Lines

[rihan m]

Hi Colleagues,

A receipt has been raised & banked for multiple mode of payments. For example customer pays $10000.00 as below

$ 75000 In Credit Card
$ 20000 In Cash
$ 5000 In Cheques

When u take the bank statement , there will be three statement lines in three different days for the above. And when it comes to reconciling u have three statement lines with a single AR receipt. How can we reconcile it. Is there a work around. And what does recalculate button does??


Appreciate ur prompt response,

Thanks,
Rihan

[oteixeira]

Hello Rihan.

This can be achieved (11.5.10.2), but it is not easy. Query the receipt entered for the $100,000 amount and note it?s number. When you are in the Bank Statement Lines window enter the receipt number in the Number column in the 3 statement lines and save. Press the Available button. When the Find Transactions windows opens, the Receipt class shall be selected and receipt number will be placed on the Numbers parameter. Press the Find and Mark button and the receipt will be displayed for reconciling.
If you have duplicate receipt numbers the case gets more complicated for more then one records will be retrieved.
As you can see this is not an easy procedure. What I do is to fill in the statement Number column before start executing the reconciliation (i do it from the back end).

The Recalculate button recalculates the Charges, Errors and Amount Cleared fields. Cash Management defaults the amount differences between the statement line amount and the transaction amount based on the system parameters setup.

Octavio

[rihan m]

Hi Octavio,

Thanks for ur reply,

But when I tried the above method. Once I select the first statement line 75000 and click Find and Mark (Giving the receipt class and number) and save, the statement line gets over reconciled by 25000.For the remaining two statement lines I couldn't find any receipts to match..

You do this in the APPs right??

Need ur assistance

Thanks,
Rihan

[oteixeira]

Hello Rihan
Have you done it in the proper way? Remember you have to enter the receipt number <b>in all 3 statement lines</b>, not just in one. Save and just then press the Available button.

Octavio

[oteixeira]

Hello Rihan

I've been talking to users and found out that i was wrong. There's really no chance of doing this. I believe an enhancement request has been requested and will be available in future releases. Sorry for the inconvenient.

Octavio.

[rasinti]

Dear Rihan,

if customer paying this amount in diffren tmodes then your receipts also should have the different receipt classes and Payment methods.

[hiszaki]

Hi Rihan

If the customer pay the $10000 like you say in Credit card, cash & check, so I think is better you enter this receipt 3 times with the same data except the receipt methods because the business of each receipt method is different than other method.

For Ex. the cash method mean the amounts is cleared but the check method must be confirmed or remitted then become cleared.

So My suggest is that enter the receipt number 3 times in different receipt methods

Thanks
Hisham

[rihan m]

Hi Rasinti/Hisham,

Thanks for ur reply..

Yes, u all r absolutely right and I do agree that there is a necessity for multiple receipts (under three different classes) to be raised.

I am going to instruct them to do so,

Thanks,
Rihan

[rihan m]

Dear Colleagues,


We r in 11.5.10.2 and wish to implement cash mgt across OUs. Bank statement will be uploaded to Oracle from the Banks' Net.

The bank statement uploaded will have different lines for each transactions.As I specified, the problem of having multiple statement lines against a single transaction is possible.

Due to the large volume of receipts in particular, a bulk receipt is raised for multiple mode of payment or for many cheques / TC etc... When u come to the reconciliation the problem of matching occurs. (As detailed below)

I m asking whether we have any work around available within 11i to accommodate and overcome this issue.. Specifically a way of changing the auto reconciliation criteria.


Appreciate ur prompt response ,

Rihan

[hiszaki]

Hi Rihan

Can you please explain the (Banks' Net.)?

also I think the auto reconciliation can be easier way to reconcile the statement even it contains a lot of lines.

If you have an other business issue please explain.

Thanks
Hisham

[rihan m]

Hi Hisham,

Bank statement is downloaded from bank's web site and uploaded to Oracle using bank loader program.

Yes. We do have a business issue where receipts are raised for multiple cheques and multiple payment modes. For instance, if a customer is paying through ;
1.Multiple Local Cheques/ Travellers Cheques
2.Cash / Cheque / Tcs / Credit Card

In settlement of an invoice, only a single receipt is raised. This is due to the large volume of transactions.Therefore , If u compare the bank statement and the AR receipts , u have multiple statement lines to be matched against single receipts.

As it is not possible within 11i , I am looking for any work around available to over come this problem.


Thanks,
Rihan