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R12 :Bank Statement Reconciliation

Posted on May 22nd, 2008 by Sanjit Anand ||Email This Post Email This Post

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We already aware for changes for new Bank Account Model feature of R12.

Lets investigate how bank model drive some changes in Bank statement Reconciliation.

1….R12, Bank Transaction Codes is linked to multiple sources.

In 11i each bank transaction code had to be linked to a single source, such as Accounts Payable. This could create an issue if the bank was using the same transaction code to report back a payment that was initiated from an application other than Accounts Payable. With this enhanced changes link with bank transaction code to sources can easily manage and this way you can assign a priority number which can be used in the auto reconciliation for sequencing.

2..Another feature is Reconciliation tolerances.This R12 feature is moved from the system level to the bank account level. This moves simply means that each bank account can manage unique set or reconciliation tolerances. The options for setting tolerance is still distinct for at both manual and auto reconciliation. You should also note auto reconciliation tolerances is unique with sources, that mean each source like AP,.AR,CM, and Open Interface can have there own level.

3… Most important,now it is possible to use the same bank account, created in the centralized model, in multiple organizations, the bank statement reconciliation can also done across Operating Units.

dgreybarrow-2Underline Setup

Most of setup is now attached at Bank level which includes your Transaction codes. There is provision to manage and assign transaction code to multiple transaction sources.

Another changes you can see in R12 accounts Control in which you can easily manage reconciliation control parameters.


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