Payables & Cash Management

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    Matthew Dluhy
    Unable to reconcile Amex cashiering deposits at a detail...
    Topic posted October 1, 2019 by Matthew Dluhy, tagged Cash Management, Configuration, Setup / Administration 
    24 Views, 1 Comment
    Title:
    Unable to reconcile Amex cashiering deposits at a detail level due to bank statement format
    Summary:
    We are wondering how the community handles reconciling bank statements if the bank can only send summary-level details.
    Content:

    We process many point of sale transactions each month, many of which are paid for with Amex. Monthly, Amex provides us our statement of transactions we’ve received money for, and our goal in Cash Management is to reconcile these individual statement lines with the system transaction lines that will be integrated from our cashiering system.

    According to Amex, the only file types they’re able to produce statements in are CSV and TSV, but Oracle does not support either of these out of the box. File types Oracle supports out of the box: BAI2, SWIFT MT100/103/940, EDIFACT FINSTA/ PAYMUL, and ISO20022.

    We can create an auto reconciliation rule to do a one-to-many reconciliation where we reconcile one summary-level (daily balance) bank statement to many system transaction lines, but that’s not a thorough reconciliation and would not satisfy our auditors. Other than offline manual reconciliations, what other options do we have?

    Thanks in advance for any advice/information for this!

    Version:
    Oracle Cloud Cash Management 19C

    Comment

     

    • Becky Alvarez

      I am not sure we support this as I have never had anyone ask about trying to reconcile Credit Card transactions through Cash Management.  Have you logged an SR to see if this is supported or checked the Cloud MarketPlace to see if we have a Partner such as APRO that might have a solution for this?