ECM:How to Reconcile the Transactions that Have Been Rejected by the Bank?
Last updated on SEPTEMBER 15, 2016
Applies to:PeopleSoft Enterprise FIN Cash Management - Version: 8.4 to 9.1 - Release: 8.4 to 9
Information in this document applies to any platform.
- Created an EFT payment and the EFT file is sent to the bank.
- Bank immediately includes this transaction in the bank statement and bank statement is sent to the company the next day.
- Then due to some issues with the vendor bank account,the bank couldn't deposit that amount into vendor account and so it has to return that back to the company.
- The company canceled the payment with re-issue option and this time the bank statement sent by the bank contains a reversal transaction of the first one.
- Now on the bank statement side there are two transactions one with plus sign and the second one with minus sign.
- To reconcile these both transactions there should be two transaction on the system side.But as per the current design of the system,when a payment is canceled with re-issue option, it gets automatically reconciled and the payment will not be shown on the recon page.
- How to reconcile the two transaction on the bank side?
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