Setting up cash suspense account and reconciliation account

Use this procedure to define a relationship between a general ledger company and a cash code. This relationship is required so that the company can process transactions for a specific bank account.

  1. Select Financials > Cash Management > Cash Setup > Company Cash Codes.
  2. Click Create.
  3. Select a Company and Cash Code.
  4. Specify this information:
    Cash Posting Account
    Select the global ledger suspense account to use for posting Payables payments.
  5. On Reconciliation tab, specify this information:
    Reconcile Global Ledger Entry
    Select this check box.
    Reconciliation Account
    This account is used to credit the actual cash account and debit (reverse) the cash posting suspense account after the payment is cleared by the bank.