Balance Reconciliation

The Balance Reconciliation reconciles the balances from the operational systems of a bank with the balances as maintained in General Ledger (hereinafter referred to as GL) of the bank. With this application, banks can also reconcile between General Ledgers maintained in the bank. The balances in the GL of a bank are the ones that are audited and duly certified by the internal and external auditors. Hence considered to be the final version of the truth in a bank. Therefore, all data extracted from any other operating systems of a bank must be reconciled with the balances maintained in the GL to ensure that they are complete, accurate, and comprehensive. It then acts as an authentic and reliable base for any further decision-making.

The bank's operational data are sourced into standard product processor entities/tables. GL Reconciliation application has pre-configured GL/PP table GL code and corresponding balances in the application, for which the reconciliation definition process must be executed. See Balance Reconciliation for more information.

Option is available to reconcile GL data with other operational data used by the bank, which does not flow into the standard Product Processors configured in the application.

Balance reconciliation feature of AFCS supports reconciliation by the following dimensions, of which As-of Date, Accounting Standard, Account Currency, Legal Entity, and GL Account are mandatory.

Table: Mandatory Dimensions

Dimension

Table

As-Of Date

DIM_DATE

Accounting Standard

DIM_ACCOUNTING_STANDARD

Account Currency

DIM_CURRENCY

Legal Entity

DIM_LEGAL_ENTITY

GL Account

DIM_GL_ACCOUNT

 

Table: Optional Dimensions

Dimension

Table

Business Unit

DIM_BUSINESS_UNIT

Organization Unit

DIM_ORG_UNIT

Branch

DIM_BRANCH

Product

DIM_PRODUCT

 

NOTE:   

This set of dimensions correspond to properties that are common across all product-processor and ledger balance data.

The set of dimensions cannot be extended by users.

 

The list of Product Processors supported by this application is as follows.

Table: Product Processor supported by this application

Entity Name

Stage Bill Contracts

Stage Borrowings

Stage Cards

Stage Casa

Stage Equity Exposures Contracts

Stage Futures Contracts

Stage Foreign Exchange Contracts

Stage Investments

Stage Letter Of Credit Contracts

Stage Leases Contracts

Stage Loan Contracts

Stage Over Draft Accounts

Stage Option Contracts

Stage Repo Contracts

Stage Term Deposit Contracts

 

Measures List

Balance reconciliation uses the following product-processor amount figures as the measured values (measures) for comparison with ledger balance information.

NOTE:   

This set of dimensions correspond to properties that are common across all product-processor and ledger balance data.

The set of dimensions cannot be extended by users.

 

Table: Entity name and its measures list
NOTE: The below Entities are not configurable.
     

Stage General Ledger Data

   Amount In Accounting Currency

   Amount In Local Currency

Amount Mtd In Accounting Currency

Movement Mtd in Accounting Currency

Movement Ytd in Accounting Currency

 

Preparation Management Ledger Period Balance

Balance YTD

GL Account Number

Stage Annuity Contracts

    Undrawn Amount

    End of Period Balance

    Provision Amount

·       Undrawn GL Code

·       General Ledger Account Code

·       Provision GL Code

Stage Repo Contracts

    End Of Period Balance

    Provision Amount

    Undrawn Amount

    Current Write Off Amount

·       General Ledger Account Code

·       Provision GL Code

·       Undrawn GL Code

·  Write-Off GL Code

Stage Option Contracts

    End Of Period Balance

    Provision Amount

    Total Fees And Charges

    Undrawn Amount

    Current Write Off Amount

General Ledger Account Code

·       Provision GL Code

Fee GL Code

·       Undrawn GL Code

Write-Off GL Code

Stage Investments

    End Of Period Balance

    Provision Amount

    Undrawn Amount

    Current Write Off Amount

·       General Ledger Account Code

·       Provision GL Code

·       Undrawn GL Code

·   Write-Off GL Code

Stage Loan Contracts

    Commission Amount

    End Of Period Balance

    Total Fees And Charges

    Current Write Off Amount

Commission GL Code

General Ledger Account Code

Fee GL Code

Write-Off GL Code

Stage Casa

    Commission Amount

    End Of Period Balance

    Provision Amount

    Total Fees And Charges

    Current Write Off Amount

Commission GL Code

General Ledger Account Code

·       Provision GL Code

Fee GL Code

Write-Off GL Code

Stage Cards

    Commission Amount

    End Of Period Balance

    Provision Amount

    Total Fees And Charges

    Undrawn Amount

    Current Write Off Amount

Commission GL Code

General Ledger Account Code

·       Provision GL Code

·       Fee GL Code

·       Undrawn GL Code

Write-Off GL Code

Stage Term Deposit Contracts

    Commission Amount

    End Of Period Balance

Interest Accrued Amount Month Till Date

    Total Fees And Charges

·  Commission GL Code

·       General Ledger Account Code

·       Accr Int GL Code

·       Fee GL Code

Stage Futures Contracts

    End Of Period Balance

    Provision Amount

    Undrawn Amount

    Current Write Off Amount

·       General Ledger Account Code

·       Provision GL Code

·       Undrawn GL Code

·  Write-Off GL Code

Stage Leases Contracts

    End Of Period Balance

    Total Fees And Charges

    Undrawn Amount

    Current Write Off Amount

·       General Ledger Account Code

·       Fee GL Code

·       Undrawn GL Code

·  Write-Off GL Code

Stage Bill Contracts

    Commission Amount

    End Of Period Balance

    Provision Amount

    Total Fees And Charges

    Undrawn Amount

·  Commission GL Code

·       General Ledger Account Code

·       Provision GL Code

·       Fee GL Code

·       Undrawn GL Code

Stage Letter Of Credit Contracts

    Commission Amount

    End Of Period Balance

    Provision Amount

    Total Fees And Charges

    Undrawn Amount

·  Commission GL Code

·       General Ledger Account Code

·       Provision GL Code

·       Fee GL Code

·       Undrawn GL Code

Stage Borrowings

    Commission Amount

    End Of Period Balance

    Provision Amount

    Undrawn Amount

·  Commission GL Code

·       General Ledger Account Code

·       Provision GL Code

·       Undrawn GL Code

Stage Foreign Exchange Contracts

    End Of Period Balance

    Provision Amount

    Total Fees And Charges

    Current Write Off Amount

·       General Ledger Account Code

·       Provision GL Code

·       Fee GL Code

·  Write-Off GL Code

Stage Over Draft Accounts

    Commission Amount

    End Of Period Balance

Interest Accrued Amount Month Till Date

    Provision Amount

    Undrawn Amount

    Total fee and Charges

    Current Write off Amount

·  Commission GL Code

·       General Ledger Account Code

·       Accr Int GL Code

·       Provision GL Code

·       Undrawn GL Code

·       Fee GL Code

·  Write-Off GL Code
 

NOTE:   

Balance reconciliation requires that currency in which entered-currency amount figures in Stage GL Data is designated matches the currency in which product processor and ML balance data is, as well. Refer the above table for details on product processor balance data.

Before you Begin

·        Select the Domain and Deploy the selected Domain

Access Balance Reconciliation UI

To access the Balance Reconciliation, follow these steps:

1.     From the Oracle Financial Services Accounting Foundation Cloud Page, select Subledger Applications.
The Subledger Application Window is displayed.

2.     Select Balance Reconciliation.
The Type Window of Balance Reconciliation is displayed.

3.     You can navigate to following UIs:

§       Type

§       Entity

§       Reconciliation Rule

§       Reconciliation Summary

§       Adjustments