How to Reconcile Banking Activity to Ledger Transactions


This guide explains the general process flow to complete bank reconciliation regularly; it provides the steps to check the monthly banking activity, look up the general ledger transactions recorded through the month, and reconcile the banking to ledger transactions. This section also highlights the best practices for the reconciliations processes, timing, and submissions to the CashOps department. 

Essential Information

Best Practices:

Next Steps

General process Flow for Departments:

  1. Collect necessary documents, data and any related cash/bank activity detail.
  2. Pull General Ledger (GL) transactions & highlight the final balances.
  3. Download Bank statements and summarize credits and debits totals.
  4. Identify all deposit slips or daily activity initiated within the department.
  5. 3-way transactions comparison & identify differences.
  6. Identify errors & investigate discrepancies.
  7. Adjustment entries posting in OFC (Oracle Fusion Cloud).
  8. Calculate adjustment ending balance.
  9. Review and Approval.
  10. Repeat Routinely.

Timing and Submissions:

  1. Daily record of deposit slips.
  2. Regular monthly schedule for month-end close for reconciliations.
  3. Save the primary reconciliation file and support documents in department's shared folder.
  4. Send over finalized approved reconciliation to Cash Operations team (CashOps) via Services & Support ticket.

Reconciliations reference document

Reconciliation Template with Action Steps

Please refer to the template for detailed instructions on reviewing banking activity at month-end, pulling GL transactions details and reconciliation of the transactions.

Complete all parts of the template:

Bank Reconciliations Template


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