Reconciling Payments on a Bank Statement

When you receive a bank statement, you can reconcile payments by matching the amount of each payment or deposit received with the amount that was submitted to the bank. You can reconcile payments manually, or use the Bank Reconciliation Application Engine process (BNK_RECON) to reconcile them.

The reconciliation rule that you use varies depending on the information that the bank provides. You should reconcile at the same level that the bank provides on the bank statement. If one payment always exists per deposit, the bank provides the deposit ID. In this case, use the PS_BNK_RCN_DEPOSIT rule. If multiple payments are in a deposit, the bank provides the payment ID. In this case, use the PS_BNK_RCN_PAYMENT rule.

If you have cash payments received through the Load Cash Drawer Receipts process (CDR_LOADPMT), you must use the PS_BNK_RCN_DEPOSIT rule because all cash payments are sent to PeopleSoft Receivables in one deposit and the payment-level detail is not available in the bank statements. In this case, you must set up separate bank accounts: one for cash deposits and one for other payment methods.