Using Electronic Banking to Process Payments

Process Flow for Electronic Banking

To process bank statement payments:

1. Run the Import Bank Statement Application Engine process (BSP_IMPORT) to import the electronic statements into the staging tables and to load the bank statement data from the staging tables into the Bank Statement tables.

2. Run the Bank Reconciliation Application Engine process (BNK_RECON) on the Reconciliation Manager page.

   You must reconcile the bank statement at the payment level and not at the deposit level by assigning the BNK_RCN_PAYMENT reconciliation rule to the bank account.

   You can also manually reconcile bank statements.

   The process verifies whether the receipts on the bank statement with a TRANSACTION_CODE of C exist as payments in the PS_PAYMENT table. The process marks receipts that are found on the PS_PAYMENT table as reconciled. The process marks those not found as unreconciled and gives the receipts an NTF (not found in system) status.

   Note: Documentation about receiving bank statements, the Transaction Loader process, and the Automatic Reconciliation process is in the PeopleSoft Banks Setup and Processing documentation.

3. Load any unreconciled payments that have the NTF status into the payment tables and create cash control accounting entries for the payments if you selected the appropriate settings for the bank account and business unit options.

   Use one of these options to load the data:

   • Run the Bank Statement Processing Application Engine process (AR_BNKSTMT) to load specific bank statement data.

   • Run the Payment Loader process to load data for all bank statements.

     The Bank Statement Processing process handles only the payments that are processed by the Bank Reconciliation process. It does not evaluate unprocessed payments in the bank statement tables.

     If you use the Bank Reconciliation cash control accounting method that records the debit to cash when the payment or trade receipt is reconciled on the bank statement, you must reconcile your bank statements. With the Bank Reconciliation cash control method, the system debits cash only when a deposit is reconciled to payments that were previously recorded in PeopleSoft Receivables. The debit to cash is the reconciled deposit amount.

     You must run the Bank Statement Processing process twice to generate the cash control entries if you use the Bank Reconciliation cash control accounting method. In the first run, you load the unreconciled deposits into PeopleSoft Receivables as new payments. The second time that you run the Bank Statement Processing process for a bank, you generate the cash control entries. Another option is to use the Cash Control process after loading the bank statement into PeopleSoft Receivables to generate the accounting entries.

     Note: You can combine the Reconciliation process and the Bank Statement Processing process in one Process Scheduler job. However, you can run the combined Process Scheduler job only from the Reconciliation page.

4. If you use cash control accounting and errors occur, fix the problem and then run the Cash Control process to create the cash control accounting entries.

5. View the Application Engine error messages in the Process Monitor for the Payment Loader process.