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Topic

    Phani Vajha
    ACH Bank Statement Reconciliation - One to Many
    Topic posted August 15, 2016 by Phani VajhaRed Ribbon: 250+ Points, last edited January 30, 2019, tagged Cash Management, Payables 
    211 Views, 2 Comments
    Title:
    ACH Bank Statement Reconciliation - One to Many
    Summary:
    In ACH we are trying to setup bank statement reconciliation. We would like to know the best practices and also the grouping type and matching critieria that is used.
    Content:

    Hi,

    We are in Fusion R11 version and enabling ACH functionality for our vendor payments. As a part of that, we are trying to figure out best practices for the ACH bank statement automatic reconciliation.

    1. How to setup one to many bank statement reconciliation rule - What grouping type, matching criteria are used? As of now we have used payment file reference for grouping type and then Amount and Date for matching criteria. But we are not sure if that is the best practice.

    2. We noticed an open bug in Fusion (Bug 21811292 : ADD PPR BATCH NAME TO RECONCILIATION MATCHING RULE ADVANCED MATCHING CRITERIA).  I felt the payment file reference should be good enough to group multiple payment transactions. But as per this bug, it doesn't seem so and we want to understand the business reason for it. Did anyone encounter this issue?

    Any help or guidance in this regard would be great.

     

    Thanks

    Phani

    Comment

     

    • Brian Lodal

      I would suggest working with the bank to provide the BAI2 file with individual ACH transactions instead a the ACH batches grouped into a single transaction.  It will be very difficult to have the one to many reconciliation work properly.  When ACH are rejected by the receiving bank it will cause you issue with being able to reconcile the batches as you will need to void the payment in Payments. 

    • Rohan Kamat

      Is there a way to reconcile without having bank provide individual ACH transaction lines ?