Download Bank statement from respective banks website

Insert accounting code for each line in the bank statement

Format Excel BS to Oracle Template

Upload Bank statement in Oracle by using the load interface template

Once upload is successful, verify if the bank statement tally and the balance is zero, that is no discrepancies 

Generate cash transactions. The purpose of doing same is clearing the bank charges and other fees. This will reconcile automatically. Then submit create accounting function in Oracle

Submit Auto reconciliation for all other entries

For items not automatically reconciled, a manual reconciliation exercise is done,ie, matching of the bank statement transactions with cash book transactions.

Compare the bank statement transactions to the cash book transactions to ensure that all the transactions on the bank statement are also on the cash book transactions .

If there are transactions on the bank statement that are not on the cash book transactions , investigate and record the reasons for the difference.

Compare the cash book transactions to the bank statement transactions. 

If there are transactions in the cash book are not the bank statement , investigate and record the reasons for the difference.

Reconcile the ending balance on the bank statement to the ending balance on the cash book.

• If the balances match, the reconciliation is complete.
• If the balances do not match, investigate and record any differences..

Record and report any differences found during the reconciliation process.

• If there are differences that cannot be resolved, contact the bank and take appropriate actions to correct the discrepancies.
• Ensure that all transactions are recorded accurately to prevent future discrepancies.