Previous day statements

Previous day bank statements contain all bank transactions that affect a cash management account.

Transactions are from the previous day, previous few days, previous week, or previous month. The duration for which the bank statement contains transactions depends on the agreement between the company and its bank.

This list shows the processes that occur when a bank statement for the previous day is created after the import:

  • A category is assigned to the bank statement line based on the processing rules that were applied at the time of import.
  • Global ledger transactions or cash ledger transactions are created based on the category definition.
  • The statement lines are automatically matched if these items are defined in the cash management account:
    • The reconciliation method is Use Reconciliation Match Rules.
    • Match rules are linked.
    • The Auto Reconcile Statement Lines check box is selected.

Statement statuses

Click the link on the status to view the reconciliation queue. This table shows the statuses of a bank statement for the previous day:

Status Description
Unreconciled The initial status when a bank statement is created.
Reconciled All lines of a bank statement are reconciled. The status can be changed back to unreconciled.
Closed Reconciled bank statement can be closed. When the status closed, no changes can be made.

Posting Statuses

This table shows statuses that are only available when the category is Post To Global Ledger.

Status Description
No Distributions No distributions are created from bank statement lines.
Unposted Distributions are created but not posted.
Pending Approval Distributions are sent for approval.
Released Distributions are released and ready to post.
Posted Distributions are posted.

Actions

This table shows the actions that are available on a bank statement for previous day:

Action Description
Load and Reconcile
  • Load all bank statement lines.
  • Load all cash ledger transactions for the selected bank statement or load all non cash ledger transactions based on setup:
    • Automatically apply match rules to the transactions.
    • Reconcile statement lines that are matched and within the tolerance that is set in the Cash Management account.
Mass Load and Reconcile Load and reconcile all bank statements that are linked to a specific cash management account.
Release Cash Ledger Transactions for an Account Release transactions that are created from all statements for a bank account.
Release Cash Ledger Transactions Release transactions that are created from a statement.
Save and Clear Current Reconciliation Use in the reconciliation process when you are manually reconciling lines. Move the current selected transactions to the Matched Transactions list.
Clear All Reconciliations Unreconcile and unmatch all reconciled statement lines.
Delete Open Reconciliation Transactions Remove unmatched cash and non-cash ledger transactions that are loaded into the reconciliation queue.
Delete Statement Reconciliation Details Remove the statement lines that are loaded into the reconciliation queue. All of the lines must be unmatched before you can remove them.
Run Reconciliation Balances Report Use during period end or any time to generate a reconciliation balances and detail report for the bank statement. Use this action to run the report for a range of bank accounts.
Create Reconciliation Balances Report Run the report for individual statements.