PeopleSoft Bank Reconciliation

The aim of the bank reconciliation is to analyse discrepancies between the corresponding transactions an organisation and its bank have recorded. There are many ways to accomplish this, from a fully automated approach to one in which you manually compare transactions. PeopleSoft Banking delivers a library of reconciliation rules as part of its auto- reconciliation process. Reconciliation rules pertain to records in PeopleSoft. Manukau City Council implemented PeopleSoft 8.4 in July 2003 and has expanded these reconciliation rules to meet our reconciliation requirements. Rules are developed by determining the various data sets from the source modules of PeopleSoft and are refined and developed further as the system matures and as data sets change over time. The way the rules have been written has also been adjusted to enable verification of balancing transactions and efficiency in the automatic reconciliation process. Sql fixes have been incorporated into the bank statement load. Reports have also been written to aid reconciliation.