Payables & Cash Management

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Topic

    Clare Farris
    Auto reconciliation issues in cash management
    Topic posted August 6, 2019 by Clare FarrisRed Ribbon: 250+ Points, last edited August 6, 2019, tagged Cash Management 
    49 Views, 8 Comments
    Title:
    Auto reconciliation issues in cash management
    Summary:
    Auto reconciliation issues in cash management
    Content:

    Hi,

    We are having issues with auto reconciliation of remittances in cash management. CE is auto reconciling cheque remittances against EFT remittances in error and posting the difference to service charges (amounts are not an exact match but within tolerance rules). Our EFTs are one to one but our cheques are remitted in batches (one to many). To correct we have to find the missing cheque under the reconciled transaction, unreconcile and then manually reconcile.

    We have tolerance rule set up for date (+/- 10 days), amount (+/- $1) and percentage amount (+/- 0.1%).

    Our matching rules and rules sets are below.

    Is there any configuration we can set up or changes we can make so EFTs are only auto reconciled against EFT remittances? Or any other ideas how we can resolve this issue?

    Thanks,

    Clare

    Version:
    R13 - 19B
    Image:

    Comment

     

    • Clare Farris
    • Clare Farris
    • Clare Farris
    • Logan Wacker

      Why aren't you using transaction types, or payment methods and other advanced filtering criteria to better manage your buckets of transactions?

      • Clare Farris

        To be honest I'm new to Cash Management and the system was already configured. How do I do that?

        • Glen Ryen

          HI Clare,

          For each Matching Rule, you'd click the option for 'Use Advanced Criteria' and then define the filter that limits what system transactions that rule will consider.  See the docs at https://docs.oracle.com/en/cloud/saas/financials/18b/faipp/cash-management-and-banking-configuration.html#FAIPP2099736, that's got a table of some of the common statement and transaction attributes that you might want to use in your matching logic.  Does that help?

          Glen

    • Clare Farris

      Further to the comment above re using 'Transaction types' for matching rules. We are trying to add these but we are finding our bank files include several types of transactions under one bank transaction code ie customer refund cheques and supplier payment cheques are both under 475 (so both AP and AR transactions) or wire payments from customers, merchant deposits and EFTs under 142 (so multiple AR receipt methods). This is making it hard for us to map the transaction types and use these for matching. Is this usual with BAI2 files? We're using BMO.