Payables & Cash Management

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Topic

    Asad Hussain
    Best practice for open check migration
    Topic posted November 14, 2019 by Asad Hussain 
    17 Views, 1 Comment
    Title:
    Best practice for open check migration
    Summary:
    Best practice for open check migration
    Content:

    What is the best practice recommendation for open check migration?

    We are converting to Oracle Financials and are looking to convert open checks that are outstanding and will be cashed post go-live. We would also like to be able to void or reissue the checks if necessary.

    Comment

     

    • Swathi Potla

      Hello Asad,

      The best way is to load them as External Transactions in Cash Management. When the check clears the bank, bank statement line will be automatically reconciled. You can void an external transaction as well, but it doesn't trigger accounting for the reversal. 

      To reissue check, you might have to post reversal entry and create a new invoice to produce a new check.

      Thanks

      Swathi Potla