Set Up Reconciliation for Payments
Oracle Fusion Global Payroll integrates with Oracle Fusion Cash Management and Oracle Fusion General Ledger. This integration facilitates the setup of banks, branches, and bank accounts, and the reconciliation of bank statements with payment transactions.
An administrator or implementor with the appropriate privileges performs the tasks shown in the following table in the Setup and Maintenance work area:
Application |
Setup Steps |
Task |
---|---|---|
General Ledger |
Create an account combination for the reconciliation differences account. |
Manage Account Combinations |
Cash Management |
Set up transaction codes that map to the payment method transaction codes used in payroll. |
|
Cash Management |
Create reconciliation rules. |
|
Payroll |
|
Manage Costing of Payment Sources |
This topic covers the steps for setting up the following objects:
-
Reconciliation differences account
-
Payroll transaction codes
-
Reconciliation rules
-
Payroll accounts
Set Up Reconciliation Differences Account
If you reconcile payment costs before posting the costing results to Oracle Fusion General Ledger, set up a reconciliation differences account in General Ledger using the Manage Account Combinations task. The reconciliation differences accounts in Cash Management records discrepancies between the bank statement and the transferred payment files, such as over and under payments.
Set Up Payroll Transactions Codes
If you cost your payments, set up and map transaction codes in Cash Management for the organization payment methods.
Task |
Action |
---|---|
Manage Bank Statement Transaction Codes |
|
Manage Cash Transaction Type Mapping |
|
Set Up Reconciliation Rules
Payroll processes transfer your payment entries to Cash Management for manual or automatic reconciliation with bank statements, and cost the unreconciled and reconciled payments to the appropriate account, such as the cash clearing and cash accounts.
If you reconcile transactions automatically, in Cash Management complete the tasks listed in the following table.
Task |
Action |
---|---|
Manage Bank Statement Reconciliation Tolerance Rules |
Create tolerance rules based on date, amount, or percentage that prevent or warn you when reconciliation exceeds a defined tolerance. |
Manage Bank Statement Reconciliation Matching Rules |
Define bank statement automatic reconciliation matching rules. |
Manage Bank Statement Reconciliation Rule Sets |
Assign a group of matching rules and tolerance rules to a bank account for reconciling bank statement lines with transactions. |
Manage Bank Accounts |
Specify the Reconciliation Differences account you set up in Oracle Fusion General Ledger.. |
Set Up Payroll Accounts
Create a liability and cash account. Create a cash clearing account to track payments such as cheques, where a delay exists between the date the payment is issued and the date it clears. Use the Manage Costing of Payments task in the Setup and Maintenance work area or in the Accounting Distribution work area of Oracle Fusion Global Payroll.