Viewing bank statement interface files

The bank statement interface compares the Expected Number of Transactions to the Actual Number of Transactions which verifies all lines of the bank statement were received from the financial institution. The bank statement interface uses the Finance Group associated with the Cash Account.

Once you have a bank statement file in the File Channels/Received folder, channels will pick up the bank statement and move it to the Bank Statement Interface file if the following criteria are met:

• The account number in the file matches the number defined in Cash Account

• The Bank Statement File name has not been moved to the Bank Statement Interface before

• The currency of the bank statement interface is the same as the Cash Account currency

The bank statement interface then assigns the bank statement line a Category based on the Statement Line Classification of the Cash Account, Processing Rules, and Custom Group definitions. If no Processing Rule criteria match the bank statement line, then the default category of "Uncategorized" will be assigned.

If the Finance Group is marked as Automatic Bank Statement Import, the system will try to import it to Bank Statement upon the file being put into the Bank Statement Interface. If the Finance Group is not marked as Automatic Bank Statement Import, the Bank Statement will be created and the lines will be imported. The user will need to do Manual Reconciliation. For more information on Manual Reconciliation, see the Infor Lawson Close Management and Reconciliation Administration Guide.