Managing Amount Differences

Amount differences are stated in the bank account reconciliation on the imported bank statement lines as Difference. The amount differences occur when Statement Intelligence hasn't been able to match and apply reconciliation lines to bank account ledger entries. This can be a result of various reasons such as payments that haven't been posted, missing ledger entries (e.g. fee or tax), missing UPR number or OCR ID, currency exchange rate, or deviation in days or amount outside of the specified tolerances.

In case the amount differences are caused by missing bank account ledger entries, Statement Intelligence will seek to suggest ledger entries to be posted from a temporary journal created in the bank account reconciliation. The suggestions will be based on various information such as, date, amount, and reconciliation rules. You must define which journals Statement Intelligence must use to manage the suggested journal ledger entries.

Journal template and batch can be defined for the following journals:

  • General Journal

  • Cash Receipt Journal

  • Payment Journal

  • Employee Payment Journal

To define a general journal for amount differences

I case of amount differences on the bank statement lines caused by missing ledger entries, you can specify a general journal to be used by Statement Intelligence for creating general ledger posting suggestions.
Examples of missing ledger entries could be coverings, interests, and fees. In this case amount differences will be created as ledger entries in a general ledger journal ready to be posted.

Follow the guide below to define a general journal template and general journal batch to be used in the bank account reconciliation.

  1. Use the Search for page or report icon and search for Bank Accounts, and then select the related link.
  2. Open the relevant bank account card.
  3. On the bank account card navigate to the Statement Intelligence FastTab.
  4. In the box General Journal Template, specify the general journal template to use in the bank account reconciliation when handling amount differences that have no related document.
  5. In the box General Journal Batch specify the general journal batch to use in the bank account reconciliation when handling amount differences that have no related document.

To define journals for vendor-, customer- and employee amount differences

  1. Use the Search for page or report icon and search for Bank Accounts, and then select the related link.
  2. Open the relevant bank account card.
  3. On the bank account card navigate to the Statement Intelligence FastTab.
  4. Define the journal templates that will be used to manage amount differences for customers, vendors and employees in the bank account reconciliation. This can be defined in the following boxes:
    • Cash Receipt Journal Template
    • Vendor Journal Template
    • Employee Payment Journal Template
  5. Define the journal batches that will be used to manage amount differences for customers, vendors, and employees in the bank account reconciliation. This can be defined in the following boxes:
    • Cash Receipt Journal Batch
    • Vendor Journal Batch
    • Employee Payment Journal Batch

To manage currency exchange rate differences

  1. Use the Search for page or report icon and search for Statement Intelligence Setup, then select the related link. This will open the Payment Management Setup page.

  2. On the Statement Intelligence Setup page, navigate to the FastTab General.

  3. Enable Create Currency Exchange Rate Amount Difference if currency exchange rate amount differences must automatically be created as general journal lines when reconciling your bank account.