2.2.1 Create Nostro Reconciliation Product

Create a Reconciliation Product by following the instructions provided in this topic.

Reconciliation Products are unique for a bank and capture attributes that are essential to perform reconciliations. Some of the attributes are:

• Reconciliation type
• Manual matching limits

1. In the left navigation panel, click Nostro Account Configuration. Under Nostro Account Configuration click Nostro Reconciliation Product and then click Create.
   The Create page displays.

   Figure 2-10 Create Reconciliation Product

   
   

   
   Description of "Figure 2-10 Create Reconciliation Product"

   
   
2. Specify the details on the Create page.

   Table 2-8 Field Description table - Create Reconciliation Product

   Field	Description
   Reconciliation Product	Specify a four characters code for the reconciliation product.
   Description	Describe the reconciliation product. Note: It is good practice to include the product code in the description.
   Type	Select the type of reconciliation from the following: Mirroring: In this type of reconciliation, the inernal entries are mirrored by the external entries. An internal credit is represented as debit by the external entry. Similarly, an internal debit is represented as credit by the external entry. Replication: In this type of reconciliation, the inernal entries are replicated by the external entries. An internal credit is represented as credit by the external entry. Similarly, an internal debit is represented as debit by the external entry. Note: The Reconciliation type determines how the reconciliation is implemented in the Rule Definition.
   Adjustment GL	Specify the general ledger used for adjustments. Click the Fetch icon to open the Adjustment GL page, search and select the required GL Code to post adjustments.
   Manual Matching Limits	Specify the amount tolerance when manually matching reconciled entries in a currency. Amount tolerance is separate for each currency.

   To add a Manual matching limits:
   1. Click the + icon.
      A new blank row displays.
   2. Double click a Currency column to open it in edit mode.
   3. Click the Fetch icon.
   4. Select the required currency from the list. The currency is added to the Currency column.
   5. Double click the Limit Amount column to make it editable.
   6. Enter the required amount.
   7. Repeat the above steps to add matching limits for additional currencies as required.
3. Click Save.