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ACH Bank Statement Reconciliation - One to Many

edited Jan 30, 2019 4:30PM in Payables, Payments & Cash Management 12 comments

Summary

In ACH we are trying to setup bank statement reconciliation. We would like to know the best practices and also the grouping type and matching critieria that is used.

Content

Hi,

We are in Fusion R11 version and enabling ACH functionality for our vendor payments. As a part of that, we are trying to figure out best practices for the ACH bank statement automatic reconciliation.

1. How to setup one to many bank statement reconciliation rule - What grouping type, matching criteria are used? As of now we have used payment file reference for grouping type and then Amount and Date for matching criteria. But we are not sure if that is the best practice.

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