Oracle E-Business Suite: Entering and Reconciling Bank Statements

Oracle E-Business Suite 12 Financials Cookbook

Take the hard work out of your daily interactions with E-Business Suite financials by using the 50+ recipes from this cookbook.

Entering bank statements

Bank statements are downloaded from the bank to a local directory. Once the file is received, the bank account balance and statement information can be loaded into the bank statement open interface tables, using the bank statement loader program or a custom loader program. The files can also be loaded automatically using an interface program or using the XML Gateway. Bank statements can also be entered manually.

In this recipe, we will look at how to enter bank statements.

Getting ready

The bank statement shown next has been loaded into the open interface table:

Let’s review the transactions in the open interface:

1. Select the Cash Management responsibility.
2. Navigate to Bank Statements | Bank Statement Interface Lines.

   

3. Select 95-6891-3074 in the Account field.
4. Click on the Lines button to view the transactions in the interface tables.

How to do it…

Let’s list the steps required to automatically enter the bank statements from the import and AutoReconciliation program:

1. Select the Cash Management responsibility.
2. Navigate to Other | Programs | Run, or select View | Requests from the menu.

   

3. Click on the Submit a New Request button.
4. Select Single Request from the Options.
5. Click on the OK button.
6. In the Submit Request form, select Bank Statement Import & AutoReconciliation from the list of values. Please note that we could run the Bank Statement Import program, to run only the import.
7. Select the Parameters field, and select Kings Cross as the Bank Branch Name, select 95-6891-3074 as the Bank Account Number, and select 20110314-0001 as the parameter for the Statement Number From and the Statement Number To fields.
8. Accept the default values for the remaining fields.
9. Click on the OK button.
10. We can schedule the program to run periodically, for example, every day.
11. Click on the Submit button to submit the request.

Let’s review the imported bank statements:

1. Navigate to Bank Statement | Bank Statements and Reconciliation.
2. The imported statement is displayed.
3. Click on the Review button.

   (Move the mouse over the image to enlarge it.)

   

4. In the Bank Statement window, select the Lines button.
5. The imported lines are displayed.

How it works…

Bank statements can be imported automatically, using a SQL*Loader script against the bank file to populate the bank statement open interface. The bank statement information is then imported into the Bank Statement windows using the Bank Statement Import program.

There’s more…

Now, let’s look at how to enter statements manually.

Entering bank statements manually

Let’s enter the bank statement for the 15th of March manually. The lines on the statement are as follows:

1. Payment of 213.80.
2. Receipt of 3,389.89 from A.C. Networks.
3. Credit of 7,500.00 for Non Sufficient Funds for the receipt from Advantage Corp.
4. Bank Transfer payment of 1,000.00.
5. Select the Cash Management responsibility.
6. Navigate to Bank Statement | Bank Statements and Reconciliation.

   (Move the mouse over the image to enlarge it.)

   

7. In the Reconcile Bank Statements window, click on the New button.
8. In the Account Number field, enter 95-6891-3074, the other details are automatically entered.
9. In the Date field enter 15-MAR-2011.
10. In the Statement Number field enter 20110314-0002.
11. In the Control Totals region, let’s enter control totals based on our bank statement.
12. The Opening Balance of 125,727.21 is entered based on the previous opening balance.
13. In the Receipts field, enter 3,389.89 and 1 in the Lines field.
14. In the Payments field, enter 8,713.80 and 3 in the Lines field.
15. The Closing Balance of 98,495.56 is entered automatically.

Let’s enter the bank statement lines:

1. Click on the Lines button.

   (Move the mouse over the image to enlarge it.)

   

2. In the Bank Statements Lines form, enter 1 in the Line field.
3. Select Payment as the Type.
4. Enter 100 as the code.
5. In the Transaction Date field, enter 15-MAR-2011.
6. In the Amount field, enter 213.80.
7. Select the next line, and enter 2 in the Line field.
8. Select Receipt as the Type.
9. Enter 200 as the code.
10. In the Transaction Date field, enter 15-MAR-2011.
11. In the Amount field, enter 3,389.89.
12. Select the Reference tab, and enter A.C. Networks.
13. Select the next line, and enter 3 in the Line field.
14. Select NSF as the Type.
15. Enter 500 as the code.
16. In the Transaction Date field, enter 15-MAR-2011.
17. In the Amount field, enter 7,500.00.
18. Select the Reference tab, and enter Advantage Corp.
19. Select the next line, and enter 4 in the Line field.
20. Select Payment as the Type.
21. Enter 140 as the code.
22. In the Transaction Date field, enter 15-MAR-2011.
23. In the Amount field, enter 1,000.00.
24. Save the record.