Running Automatic Reconciliation

Purpose: Use this document as a reference for reconciling bank statements using automatic   reconciliation in ctcLink.

Audience: Settlement Manager, GL Accountant

The system searches for a one-to-one match. You can also run various processes and reports from this page.

Navigation: Main Menu > Banking > Reconcile Statements > Automatic Reconciliation

Running Automatic Reconciliation

  1. Specify the search criteria by which to select bank statements for processing. Use wildcard characters (%) to retrieve multiple banks or accounts:
    1. Use the Date drop-down button to select the date processing option. Choose from the following:
      • Statement As Of Date: Date the bank statement was generated. Transactions are “cleared” on that day.
      • Date Statement Loaded: Date the bank statement was loaded into the system.
    2. Click the Search button to display the results in the Bank Statements grid.
Automatic Reconciliation page
  1. The Bank Statements grid displays the bank statements that match your search criteria.
    1. Trans (transactions loaded) – The number of detail transactions that are contained in the bank file.
    2. Reconciled– The number of detail transactions from the bank statement that have been reconciled with transactions in the system. This number is 0 (zero) until the Bank Reconciliation process is complete.

After the Bank Reconciliation process is complete, if this number is less than the number of transactions loaded, it indicates that there are transactions in the bank file that did not match those in the system. These transactions are referred to as reconciliation exceptions. You need to resolve the exceptions.

  1. Status– The reconciliation cycle processing status:
    • Load Failed: Indicates the bank files could not load.
    • Fatal Error: Indicates a fatal error occurred during automatic reconciliation processing.
    • Loading: Indicates the bank files are being loaded.
    • Reconciling: Indicates the files are being reconciled.
    • Ready: Indicates you have loaded the bank statement file and run automatic reconciliation, but some transactions could not be matched. These transactions are exceptions that you must resolve.
    • Complete: Indicates reconciliation processing is complete and all transactions were successfully matched.
  2. Exceptions– Click to view exceptions on the Automatic Reconciliation Exceptions page. This link is available only if there are exceptions when the reconciliation process is complete.
  3. Before you use the options below, select the statements for which you want to run a process or generate reports.
    • Select All checkbox – Click to select the Select option for all bank statements.
    • Clear All checkbox – Click to deselect the Select option for all selected bank statements.
    1. Run Recon button (run reconciliation) – Runs the Bank Reconciliation process for the selected bank statements.
    2. Refresh button – Click to refresh the Bank Statements grid with new information after running reconciliation.
    3. Use the Reports drop-down button to select the appropriate report to run. Choose from the following report types
      • Register: Generates a report of the bank statement.
      • Errors: Generates a report listing instances where a bank reference number does not match any reference number in the system.
      • Exceptions: Generates a report of automatically reconciled exceptions.
    4. Click the Run Report button
Automatice Reconciliaton page

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