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

Create Rule Sets for Bank Reconciliation

  • Define bank reconciliation 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.
Automatic bank reconciliation requires you to specify a bank reconciliation rule set. You can create as many rule sets as you need. Example: You can create several rule sets containing different reconciliation rules designed for different bank accounts.
  1. Access the
    Create Bank Reconciliation and First Notice Item Rule Sets
     task.
  2. Select
    Bank Reconciliation Rule Set
     for the
    Bank Reconciliation Rule Set Type
    .
  3. Specify an
    Ad Hoc Bank Transaction Template
    .
    Ad hoc transaction templates provide greater flexibility so rules can be reused across bank accounts.
  4. Select a reconciliation rule.
    The prompt only displays reconciliation rules that match the selected reconciliation rule set type.
    Workday uses all the reconcile-action rules first, then the suggest-action rules. Place the most specific and easiest to match rules before rules that require less precision in the match. That way, when it finds a match, it is safe to stop checking the next rules in the sequence.
  5. Assign the bank reconciliation rule set to a company bank account.
When you run an automatic bank reconciliation, Workday uses the rules to compare each bank statement line to every operational transaction. As soon as it finds a match, it marks both lines as reconciled and stops. If there isn't a match, it moves to the next rule with a reconcile action and goes back through the register. After it has checked all the rules with a reconcile action, it starts using the rules with a suggest action. All reconciled operational transactions are ignored on subsequent searches.
With suggest-action rules, if the rule says stop, it goes to the next bank statement line and starts over with the first suggest-action rule. If the choice is not to stop, it will look at the rest of the lines in the register before moving on to the next bank statement line and suggest-action rule.