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Administrator Guide
Last Updated: 2023-06-23
Reconcile First-Notice Items on Multiple Bank Statements

Reconcile First-Notice Items on Multiple Bank Statements

  • Define first-notice item rules and rule sets.
  • Automatically reconcile bank statements.
  • Security:
    Process: Bank Reconciliation
     domain in the Banking and Settlement functional area.
You can run a first-notice reconciliation across multiple bank statements, enabling you to:
  • Identify entries without any corresponding operational transactions, such as bank fees or interest earned.
  • Automatically create ad hoc transactions to match with the first-notice items after importing the corresponding bank statements into Workday.
    Schedule the first-notice reconciliation process to run on a recurring basis, if your bank consistently delivers statements before you create the associated reconcilable items.
  • Report specific types of first-notice items for your review, based on first-notice item rules.
  1. Access the
    Run Multiple Bank Statement First Notice Reconciliation
     task.
    You can also access the
    Create Bank Account
     or
    Edit Bank Account
     task to initiate first-notice item reconciliation after a bank reconciliation.
  2. Enter the
    Start Date
     of the bank statements. You can optionally enter an
    End Date
     for a specific time range of statements.
  3. Click
    OK
     to start the reconciliation, or schedule it to run on a specified date and time.
  4. When the reconciliation process is complete, select the
    First Notice Reconciliation Criteria
     tab to see if the bank statements are fully reconciled. You can drill down on the statements that are either still in progress or reconciled to view the transaction details.
  5. (Optional) Select
    Bank Statement
     >
    Manage Exceptions
     from the related actions menu on the bank statement to manually reconcile any unreconciled lines.
You can review bank reconciliation reports to confirm that the first-notice items on the bank statements are cleared.
The
Auto Reconciled By Rule
 field on these reports displays the bank reconciliation or first-notice item rule used to reconcile a bank statement line to an operational or ad hoc bank transaction:
  • Find Bank Statement Lines
  • View Bank Statement