CM: Accounting Date Upon Reconciling External Transactions
Last updated on JULY 03, 2018
Applies to:PeopleSoft Enterprise FIN Cash Management - Version 9.2 and later
Information in this document applies to any platform.
When creating an external transaction, an accounting template is tied to the line. Upon reconciling the external transaction with a transaction on a bank statement, the system automatically creates an accounting entry. However, it appears the accounting date that is used on the entry is the transaction date. In scenarios where it takes more than a month or even a year for the check to clear the bank, the system would not be able to post the accounting entry if the period is closed.
The issue can be reproduced at will with the following steps:
1. Create External Transaction with a date in the past (Banking > Reconcile Statements > External Transactions)
2. Create a Bank Statement with a different date (sys date will work) for the cleared check
3. Reconcile the external transaction through the semi-manual page (Banking > Reconcile Statements > Semi-Manual Reconciliation)
4. Generate Automated Accounting (Cash Management > Treasury Accounting > Automated Accounting)
5. View the Accounting Entry
Note: In the above example, the accounting date is 7/6, which was the transaction date. However, the bank date for the actual pull was 7/11.
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