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What is the impact of using a clearing account while not importing bank statements into Oracle Cloud

in Payables, Payments & Cash Management

Summary:

We have a business requirement to use a clearing account while not importing bank statements into Oracle Cloud. Bank reconciliation is performed in a third-party system, and only the reconciliation accounting entries are imported into Oracle GL.

We would like to understand the potential impacts and best practices for this approach. Specifically:

  1. If payment accounting is set to “At Payment Issue and Clearing”, and reconciliation entries are imported from the third-party system into GL, there should be no GL impact. However, what is the impact of leaving payments in Negotiable status in Oracle?
    • Are there functional or reporting issues if we do not create dummy bank statement lines to move payments from
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