9.2 Legacy Check Recon (Manual Update Bank Statement Reconciliation)
Purpose: Use this document as a reference to reconcile checks from the Legacy system.
Audience: Staff responsible for bank reconciliation processing.
You must have at least one of these local college managed security roles:
- ZD Treasury Inquiry
- 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.
Colleges may need to refer to this QRG for at least the first 2 to 3 months post go-live within the PeopleSoft system. Once live with PeopleSoft, the college will start receiving the previous day's electronic bank statement. The college will import these statements into PeopleSoft. The bank statement may consist of old legacy payment data, which was already paid in legacy system. Once the college imports the statement into PeopleSoft and the auto reconciliation runs, the college may get the "Transaction Not Found" exception of the expense payment for at least first 2 to 3 months.
Be sure to verify that the transaction has come over and is posted in the General Ledger. Do not attempt to reconcile a Legacy check that was not converted.
These type of Bank Statement transactions are to be reconciled using the procedure below.
Navigation: NavBar > Navigator > Banking > Bank Statements > Enter Bank Statements
- Select the Find an Existing Value tab. You should NEVER use the Add a New Value tab.
- Enter or select the External Bank ID and Bank Account number.
- Enter or select the Statement ID, which was loaded through the Import Bank statement process.
- Select the Search button.
- Select the Bank Transaction Entry tab. This page contains all transactions reported in the bank statement.
- Select the Recon Information tab under the Bank Transactions section. This contains the Trans Code, which identifies the type of transactions and its Recon status.
- If the Auto reconciliation process has already run on the selected Statement ID, then you will get the Reconciliation Status of “Not Found in System”. Here, change this status to 'Reconciled' and save the page. The status may be changed because the corresponding transaction is not found in the PeopleSoft System since the check payment was processed in the Legacy System.
- Process complete.