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Administrator Guide
Last Updated: 2023-06-23
Reconcile First-Notice Items on a Bank Statement

Reconcile First-Notice Items on a Bank Statement

  • Define first-notice item rules and rule sets.
  • Automatically reconcile a bank statement.
  • Security:
    Process: Bank Reconciliation
     domain in the Banking and Settlement functional area.
First-notice reconciliation finds entries on bank statements that do not have any corresponding operational transactions, such as bank fees or interest earned. Based on the first-notice item rules, Workday either:
  • Creates ad hoc transactions to reconcile with the bank statement entries.
  • Reports these lines for your review.
  1. Access the
    Run Bank Statement First Notice Reconciliation
     task.
    You can also access one of these tasks:
    • The
      Create Bank Account
       or
      Edit Bank Account
       task.
      You can configure Workday to initiate first-notice item reconciliation right after a bank reconciliation.
    • The
      Find Bank Statements
       report.
      Select
      Bank Statement
       >
      Run First Notice Reconciliation
       from the related actions menu of a bank statement. The bank statement must have some unreconciled transactions.
  2. Click
    OK
     to start the reconciliation, or schedule it to run on a specified date and time.
  3. When the reconciliation process is complete, select the
    First Notice Reconciliation Criteria
     tab to see if the reconciled lines and reconciled first-notice lines add up to the total number of lines.
  4. If the reconciled lines do not match the total number of lines, or if any lines have suggestions, select
    Bank Statement
     >
    Manage Exceptions
     from the bank statement's related actions menu to handle the 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