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Auto-reconcile Bank merchant fees from bank statement

in Payables, Payments & Cash Management 3 comments

Summary:

Auto-reconcile Bank merchant fees from bank statement

Content (please ensure you mask any confidential information):

Hi all, we have auto-reconciliation enabled for some bank transactions (AP and Payroll ACH and Checks) currently, however we want to add Bank merchant fees to both auto-reconcile and create journal entries with the bank statement transaction rules. These fees come in on our BAI file as a 455 Transaction Code (preauthorized ACH debit). These fees have no corresponding transaction in Oracle to match to.

I have created the Bank Statement Transaction Rule so far, but I'm struggling a little how to get this added to our bank statement auto-reconciliation. I see there is the task "Manage Bank Statement Reconciliation Matching Rules" but I'm a little confused whether I need to setup a new rule for these fees, as the fees won't have a system transaction to match to (until we create the system transaction). Do I even need to worry about this for this type of external transaction, and if so, what then is required to setup this type of transaction to auto-reconcile?

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