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SETUP:
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Data Exchange Definition.
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Bank Export/Import Setup.
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Fields to be updated on Bank Account Card.
Setup in Detail
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Code= TEST BANK IMPORT (Any relevant Code of your choice)
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Name= TEST BANK IMPORT (Any relevant Name of your choice)
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File Type= Variable Text
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Type= Bank Statement Import
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Reading/Writing Xml Port= 1220
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Ext Data Handling Code unit= 1240
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File Encoding = WINDOWS
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Column Separator = Comma
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Line Type: Detail.
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Code = Test (Any relevant Code of your choice)
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Name = TEST BANK IMPORT (Any relevant Name of your choice)
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Column Count= 7 (The Number of columns in the Bank Statment to be imported. For my e.g., it's 7.)
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Enter Name of Column, Data Type of Column, Data Format, Data Formatting Culture.
Field Mapping FastTab:
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In Column No. click on the drop-down, then select the first line. It will point to the Column Definition from the Data Exchange Definition page.
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Then, go to the Field ID column, click the dropdown. Field lookup will open. Select the field, then click on 'OK'.
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Follow the same Procedure for all Lines.
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Now the Field Mapping FastTabwill look something like this:
Step 6: Now go to Bank Export-Import Setup.
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Code = TEST BANK IMPORT
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Name = Test for Bank Recon
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Direction = Import
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Processing Code Unit Id= 1270
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Processing Code Unit Name= Exp. Launcher Gen. Jnl.
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In the Exchange Definition Code, Click the drop-down & Select = TEST BANK IMPORT
Step 7: Go to the Bank Account Card.
Transaction
Step 1: On the Navigation pane, click Departments and then click Financial Management.
Header
If you have a file that has the current bank statement, proceed to fill the lines automatically.
The lines include the following fields:
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Transaction Date: Specifies the posting date of the bank account or check ledger entry on the reconciliation line when the Suggest Lines function is used.
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Type: This shows the type of ledger entry or a difference to be reconciled on this line.
The options are as follows:
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Description: This shows a description of the transaction on the reconciliation line.
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Statement Amount: This shows the transaction amount that appears on the bank's statement that shows on the reconciliation line.
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Applied Amount: This shows the transaction amount on the reconciliation line that is applied to the bank account or the check ledger entry.
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Difference: This shows the difference between the amount in the Statement Amount field and the Applied Amount field for the reconciliation line.
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Value Date: You can use this field to enter the official date when funds are available and when interest is calculated on the amount on the reconciliation line.
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Document No.: Shows the document number that is specified on the original bank account ledger entry.
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Check No.: Shows the Check number (specified as the document number) used on the original check ledger entry.
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Applied Entries: Specifies whether the transaction on the bank's statement on this reconciliation line is applied to one or more bank account or check ledger entries.
Step 8: On the Actions tab, in the Functions group, choose Import Bank Statement.
The below format is used for Importing the Bank Statement in our example. I am attaching a sample used to import in my example.
To automatically match bank statement lines with bank account ledger entries:
Step 11: In the Transaction Date Tolerance (Days) field, specify the span of days before and after the bank account ledger entry posting date within which the function will search for matching transaction dates in the bank statement.
All bank statement lines and bank account ledger entries that can be matched change to green font, and the applied check box in the right pane is selected.
To manually match bank statement entries with bank account ledger entries:
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In the left pane, select a bank statement line.
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In the right pane, select one or more banks account ledger entries that can be matched with the selected bank statement line. To choose multiple lines, press and hold the Ctrl key.
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On the Home tab, in the Matching group, choose Match Manually. The selected bank statement line and the selected bank account ledger entries change to green font, and the applied check box in the right pane is selected.
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Repeat steps 3 through 5 for all bank statement lines that are not matched.
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To remove a match, select the bank statement line, and then, on the Home tab, in the Matching group, choose Remove Match.
Step 1: Let’s add an additional entry on the left pane: Bank Statement Lines.
6) Post Bank Account Reconciliation
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After the bank reconciliation, has been posted, a bank account statement is created. To view the bank account statement, open the relevant bank account card, and from the Navigate tab, in the Bank Acc. group, choose Statements.
Step 4: Click on Edit to view the Bank Statement Entries.
