Skip to main content
Documentation
Documentation
Administrator Guide
Last Updated: 2023-06-23
Enter Bank Fee Statements

Enter Bank Fee Statements

Security:
Process: Bank Fee Statements
 domain in the Cash Management functional area.
Record your bank fee statements to track service charges, fee rates, and compensation information for a billing period.
You can also import your bank fee statements into Workday using one of these bank fee statement integration templates:
  • Import EDI 822 Bank Fee Statements - Imports files in the ASC X12 EDI 822 format.
  • Import ISO 20022 V1 Bank Fee Statements - Imports files in the ISO 20022
    camt.86 V1
     format.
  • Import ISO 20022 V2 Bank Fee Statements - Imports files in the ISO 20022
    camt.86 V2
     format.
  • Core Connector: Bank Fee Statements Inbound - Imports files in a Workday-defined format. The custom integration enables you to load formats other than EDI 822 and ISO 20022.
  1. Access the
    Record Bank Fee Statement
     task.
  2. Specify the
    Statement Beginning Date
     and the
    Statement End Date
     from the bank fee statement. Workday selects lines from your account that fall within these dates.
  3. (Optional) Specify the
    Tax Currency
     that you use for paying taxes on bank service fees.
    Workday calculates the tax for the service fee using this currency.
  4. (Optional) Specify the
    Settlement Currency
     that you use to pay bank service fees.
  5. As you complete the
    Balance, Rate, & Compensation
     tab, consider:
    Option Description
    Bank Fee Compensation Code
    Select the standard compensation code for applicable balance, rate, and compensation information for the specific billing period.
    Example: Compensation includes earnings allowances and average available balances.
    Compensation Amount
    Enter the compensation and balance amount information. For rate information, enter the rate calculation method for the specified billing period.
  6. As you complete the
    Bank Fee Statement Lines
     tab, consider:
    Option Description
    AFP Code
    Bank Fee Service Code
    Select an Association of Financial Professionals (AFP) code for each bank service code. Financial institutions map individual service codes to these AFP codes to standardize service codes and descriptions.
    Enter a new line with balance amounts for each service from the bank fee statement.
  7. As you complete the
    Conversion Rates
     tab, consider:
    Option Description
    Source Currency
    Target Currency
    (Optional) Specify the currency used for the service charge and its target currency for conversion.
    Source and target currencies show the conversion rate that Workday applies when converting from a billing currency to a settlement currency. You can track the currencies and exchange rates that the financial institutions use when billing you for services.
    Quotation Date
    (Optional) Enter the exchange rate date used for the currency conversion. The quotation date on the bank fee statement outlines the exact exchange rate date for the service charge.
Workday uses the bank fee statement information for calculating price exceptions and variance amounts from the contractual bank fees.
Use these reports to review bank fee statement and line details:
  • Find Bank Fee Statements
  • Find Bank Fee Statement Lines
You can also use these reports to view the total bank fees incurred from each financial institution and company by billing period:
  • Total Bank Fees by Financial Institution
  • Total Bank Fees by Company