Thursday, February 13, 2014

How to do reconciliation at batch level in Cash Management

Go to Cash Management Module

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Call your bank statement (Bofa-458)

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Click review

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Click lines

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Click Available button

Select batch

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We can query by organization or batch number etc

Click Find

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No records have been retrieved.

How to resolve this or how to reconcile by batch?

Go to Payment Administrator

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Click Payment Process Profiles (PPP)

Create or select your PPP

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Note: We can select BACS/CHAPS/WIRE/CHECK etc

Click update and go to payment instruction creation

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Ensure that the check boxes First Party Organization, Internal Bank Account and Payment Currency are enabled

Go and call the Bank account that you are going to use while making payment

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Select the account and click update account TAB

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Ensure that Payables Match Order has got ‘Batch’ in order 1 or order 2.

Go to Payment manager

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Submit single payment request

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Go to Payment Attributes TAB

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Ensure that your bank account and PPP are selected correctly. Complete the payment.

Go back to CE and try to reconcile the bank statement for Bofa-458, which will have batch for reconciliation now.

Note: I have not covered or try to cover the configuration of Payment Administrator or Bank account in this article.

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