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ECM:How to Reconcile the Transactions that Have Been Rejected by the Bank? (Doc ID 974673.1)

Last updated on MARCH 20, 2023

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.

Goal

How to reconcile the transactions with the following scenario:

  1. Created an EFT payment and the EFT file is sent to the bank.
  2. Bank immediately includes this transaction in the bank statement and bank statement is sent to the company the next day.
  3. 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.
  4. 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.
  5. Now on the bank statement side there are two transactions one with plus sign and the second one with minus sign.
  6. 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.
  7. How to reconcile the two transaction on the bank side?




Solution

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In this Document
Goal
Solution


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