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Administrator Guide
Last Updated: 2025-05-30
Create Rules for Bank Reconciliation

Create Rules for Bank Reconciliation

  • Define bank reconciliation condition rules.
  • Security:
    Set Up: Bank Reconciliation
     domain in the Banking and Settlement functional area.
We plan to retire the bank reconciliation rule functionality in a future update. Workday recommends that you use the new matching rules for a more streamlined bank reconciliation.
Bank reconciliation rules tell Workday what action to take when the specified condition rule has successfully matched a bank statement line to an account register line. These rules either reconcile matches, or suggest possible reconciliations. Once you have created the rules, you can add them to reconciliation rule sets to use for automatic bank reconciliation.
  1. Access the
    Create Bank Reconciliation Rule
     task.
  2. Enter a
    Rule Name
     that enables you to select this rule from among others when you create a reconciliation rule set.
  3. Select a
    Bank Reconciliation Reason
    . This reason identifies when the rule is used to reconcile, suggest, or create an ad hoc transaction.
  4. Select a
    Reconciliation Action
    . If the condition rule you specify matches a line in your account register, Workday performs this action.
    • Reconciliation rules with the
      Reconcile
       action use condition rules to check for very specific matches.
    • Reconciliation rules with the
      Suggest Items
      action use condition rules to check for close matches. If some rules check for closer matches than others, place the stricter rules first.
  5. Check
    Stop if Match Found
     if you select the
    Reconcile
     action. It is optional for the
    Suggest Items
     action.
  6. Check
    Reconcile Suggested Items if Equal
     to reconcile 1 or more suggested items if their sum equals the bank statement line.
  7. Check
    Create Ad Hoc Bank Transaction for Difference
     for close matches where you are sure that the statement line and register line correspond. Use this field when the action is
    Reconcile
    .
  8. Specify an
    Ad Hoc Bank Transaction Template
    , if you have a special template for this rule. If this field is blank, Workday uses the template specified for the rule set.
    Workday ignores this option when
    Create Ad hoc Bank Transaction for Difference
     is not checked.
  9. Specify the
    Condition Rule
     for this reconciliation rule to use for comparing bank statement lines.
  10. To improve performance, you can specify tolerances in
    Date Tolerance Settings
     and
    Amount Tolerance Settings
     to minimize the number of reconcilable items for which to execute condition rules. You set a number of days from the bank statement line date and a percentage (or whole amount) from the bank statement line amount.
Once you have created all the reconciliation rules you need, you can create a reconciliation rule set.
To test this rule, select
Bank Reconciliation Rule
Test
 from the related actions menu. This task prompts for an unreconciled bank statement, and returns a result set with all the operational transaction and bank statement line matches for the rule you are testing. When you test the rule, Workday does not create any ad hoc bank transactions for the difference, as the purpose is to test the matching logic using existing data.