Reviewing and Resolving Automatic Exceptions - 16j
Purpose: Use this document as a reference for how to review and resolve automatically reconciled exceptions in ctcLink.
Audience: Settlement Manager, GL Accountant
Use the Automatic Reconciliation Exceptions page to force automatic reconciliation exceptions to reconcile.
You can also create external transactions for bank-side transactions with no corresponding system-side transactions.
The page displays a combination of all potential matches based on date, amount, and reference ID. Use your own judgment when you force items to reconcile. In some cases, transactions appear multiple times after being forced to reconcile, so you must be careful that you select the correct reconciled combination.
Note: Some automatic reconciliation exceptions may be the result of unbalanced payments in AR. To remedy this, you should balance the payment on the Regular Deposit pages in AR.
Navigation: Main Menu > Banking > Analyze Exceptions > Auto Reconciliation Exceptions or click the Exceptions button on the Automatic Reconciliation page
Reviewing and Resolving Automatic Exceptions
- If you access this page by clicking the Exceptions link on the Automatic Reconciliation page, the exceptions for the selected bank’s statements automatically appear in the grid. Otherwise, you must enter your search criteria and click the Search button.
- Use the SearchBy drop-down button to select how you want to search for transactions: by reference number or by date. The fields in the Search Criteria section vary based on your selection.
- Click the Search button.
For the system to force a transaction to reconcile, the transaction must match the following criteria. If the transaction does not match these criteria, the Force Reconciliation option is unavailable.
Note: These criteria are applicable only if you are using a Treasury application (such as Cash Management). If you are using the force-reconciliation functionality with Payables or Receivables, the Force Reconciliation check box is always enabled.
- The force-reconciliation functionality uses statement activity types for storing the accounting template and the source table information, from which the system creates the offset entries.
- The bank statement transaction must have a valid statement activity type on the Bank Transaction Entry page.
- You must complete all three fields for the statement activity type that is associated with the bank statement transaction in the Force Reconciliation Options region of the Statement Activity Type page. These fields are Allow Force Reconciliation, Transaction Table, and Accounting Template ID.
- You must select the Statement Accounting option on the External Accounts page. This ensures that the correct ChartFields for first-notice items, such as fees and interest, are established. In addition, when the system creates the offsetting external transaction, it sets the internal Build Accounting status to yes. This ensures that these transactions are properly built during the next Automated Accounting process run.
In addition, when forcing transaction pairs of unlike amounts to reconcile, the system automatically generates a balancing transaction. For example, if the bank statement amount is $100 and the system transaction amount is $99.99, then the system creates a balancing transaction, which results in a credit in the amount of $0.01. This credit is recorded in the table that is specified in the associated Statement Activity Type definition. If the system transaction is of a greater amount than the bank statement amount, then the system creates a debit and records it to the appropriate table. Using the preceding example, if the bank statement amount is $100 and the system transaction is $100.01, then the balancing transaction is a debit of $0.01.
- In the Description field for each exception, details from the bank transaction file appear along with the reason that the transaction did not reconcile. Possible values are:
- Alignment Check – Payables check that is used to align the printer.
- Amounts Not Equal – Bank amount does not match system amount.
- Ambiguous Match – An unreconciled bank statement transaction could match more than one unreconciled system transaction. This occurs most frequently when large tolerances are defined for the amount or date.
- An ambiguous match could also occur even with zero tolerances defined, however, if the reference ID’s do not match.
- Currency – The transaction currency was not defined (AR only).
- Currency Not Defined – The transaction currency was not defined at the bank account level.
- Duplicate Input Transaction – Duplicate bank transaction. A transaction appears more than once on a given statement with the same date, amount, and reference ID. (AR deposits are an exception to this.) Duplicate transactions are transactions that appear more than once on a given statement with the same date and amount (AR Deposits do not use ID’s for matching).
- Duplicate Transaction – Duplicate system transaction.
- Miscellaneous Transaction – Miscellaneous transaction, such as bank fees or interest.
- Payee Names Not Equal – Payee names don’t match.
- Not Found in System – Transaction is not found in the system.
- Null Transaction ID Ref – Blank transaction ID.
- Overflow – Overflow Payables check.
- Pending Reconciliation – Pre-reconciled.
- Reconciled – Already reconciled.
- Reprinted Check – Reprinted payables check.
- Stop Check – Check was issued a stop payment to the bank.
- Wrong Transaction Type – Wrong transaction type for source.
- Tran date Different Bank Clear – System transaction date is different from the bank clear date.
- Unreconciled – Not processed by the Bank Reconciliation process.
- Voided Check – Payables void.
- To force a transaction to reconcile, select the transaction and click the Reconcile button.