Oracle Cloud offers a broad portfolio of software as a service applications, platform as a service, and social capabilities, all on a subscription basis. Oracle Cloud delivers instant value and productivity for end users, administrators, and developers alike through functionally rich, integrated, secure, enterprise cloud services.
 Get a Free Magzine ...Profit:The Executive's Guide to Oracle Applications

Subscribe to the OracleAppsHub to receive notifications when there are new posts:

 get RSS feed
 Oracle Fusion Applications (OFA) is a portfolio of next generation suite of software applications from Oracle Corporation. It is distributed across various product families; including financial management, human capital management, customer relationship management, supply chain management, procurement, governance, and project portfolio management
 Get a Free Magzine ...Profit:The Executive's Guide to Oracle Applications

Bank Statements – in Oracle Cash Managment Prospective

Posted on August 18th, 2007 by Sanjit Anand ||Email This Post Email This Post

Have you tried OracleappsHub in ipad/iphone/smart Phone? Don't wait. try it today

Bank statements include information on bank accounts, deposits received by the bank, and checks cleared.

Each bank statement is composed of one bank statement header and several bank statement lines or called Transmision lines.

The bank statement header record identifies the statement number, bank account number, and statement date. It also contains optional information like the bank name, bank branch name, bank account currency, and control amounts.

A bank statement line can refer to one or more payments, receipts, miscellaneous transactions, open interface transactions, or journal entry lines.

Each line has a line number, transaction type, date cleared (bank transaction date), and amount. Optional information includes the bank transaction code, number, bank transaction identifier (such as the payment or deposit number), currency information (currency code, original amount in transaction currency, exchange rate), value date, customer or supplier details, customer or supplier bank account, a comment, and a descriptive flexfield for user-defined additional information.

A bank statement line’s status can be one of the following:

  • Reconciled: A few transactions have been matched against this line and the statement line may not be fully reconciled.
  • Unreconciled: No transactions have been matched.
  • Error: This status is a warning that the line cannot be reconciled because of an error in the bank statement that cannot be resolved. This line must be manually marked as Error. The transaction remains unreconciled because there is no corresponding transaction to which the line can be reconciled.
  • External: The line does not correspond to any transaction in General Ledger, Payables, Receivables, Payroll, or the Reconciliation Open Interface, but corresponds to a transaction in another system. You then manually mark the statement line as External, which is then treated by Cash Management as reconciled.

Before you can reconcile transactions against a bank statement, you need to enter the bank statement information into Cash Management.

Bank statements can be either manually entered or loaded electronically from information received directly from your bank.

If your bank provides account statements in a flat file, using a defined format like BAI or SWIFT940, you can use the Bank Statement Open Interface to load this information into Cash Management.

Bank Statements can be in any of the following formats:

  • BAI2
  • SWIFT940
  • User-defined

Next Post will discuss on different file formats.

Related Posts

Posted in Cash Management | No Comments »Email This Post Email This Post |

Have you tried OracleappsHub in ipad/iphone/smart Phone? Don't wait. try it today
Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.