Reconciliation of GL Journals with bank statement and related accounting
I need to understand which is the best practice to reconcile GL journals in Cash management and what accounting it's generated
Business case is the following:
1) We receive from external system a Journal in GL for bank deposit. Accounting will be : DR ( bank trasitory account ) CR Petty Cash. That means, some money have been deposited to a bank from a store cashier.
2) After some days we receive the bank statement. This is uploaded in the Oracle Cash management Module.
In order to reconcile automatically, the setup is done to match the same reconciliation reference ( text string) within the Journal and the Bank statement line ( 1 to 1)