Understanding the Automatic Bank Statement Process
Automatic bank statement processing is used within the cash management process to reconcile bank account information that you receive from your bank against bank account information in the JD Edwards EnterpriseOne General Accounting system. This automated process saves you time as it creates accounts receivable and general ledger transactions when it reconciles your bank statement against your general ledger. Specifically, the automatic bank statement process creates:
Entries for receipts, if an item has cleared your bank but has not yet been recorded in the system.
Journal entries for receipt and payment variances, taxes, bank fees, and transfers.
Offsetting journal entries for a bank account or an alternate offset account.
Journal entries for the drafts payable account.
To use automatic bank statement processing, your bank must submit bank statement data electronically using flat files. To convert the data from the flat files to the JD Edwards EnterpriseOne General Accounting system, you must run the Process Automatic Bank Statements Flat File program (R09600), which transfers the data to the staging tables (F09610 and F09611).
Next, you run the Load Bank Statement program (R09612) to transfer the data to the bank statement tables (F09616 and F09617) and use the Revise Automatic Bank Statement program (P09616) to revise any data. Then run the Process Automatic Bank Statement program (R09616) to automatically reconcile data from the electronic bank statement against the bank account information in your general ledger. If there are transactions that do not reconcile automatically and a processing option is set accordingly, the program prints an unreconciled report. You can correct unreconciled exceptions through the Manual Bank Statement Reconciliation program (P09631).
This diagram illustrates the automatic bank statement process:
