9.2 Running Automatic Reconciliation

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

Audience: Settlement Manager, GL Accountant.

You must have at least one of these local college managed security roles:

  • ZZ Treasury Bank Processing

If you need assistance with the above security roles, please contact your local college supervisor or IT Admin to request role access.

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

Run Automatic Reconciliation

Navigation: Navigator > Banking > Reconcile Statements > 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 Datedrop-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. Select 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– Select 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.
    1. Select All checkbox – Select to select the Select option for all bank statements.
    2. Clear All checkbox – Select to deselect the Select option for all selected bank statements.
  4. Run Recon button (run reconciliation) – Runs the Bank Reconciliation process for the selected bank statements.
  5. Refresh button – Select to refresh the Bank Statements grid with new information after running reconciliation.
  6. 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.
  7. Select the Run Report button.
Automatic Reconciliation - Google Chrome
  1. Process complete.