Presented at INFOCUS 2024
Session ID: P-049498
The reconciliation of Bank statements was quickly becoming a full time job for our finance team as they manually reconciled using the bank statement, a statement from our credit card processor, and some spreadsheets to match transaction totals. New Ecommerce initiatives happening this year will generate even more credit card and ACH transactions. So we needed a way to help the reconciliation process. We embarked on implementing the Auto Bank Reconciliation process in JDE. However, we found not even half the transactions were being reconciled. The challenge seemed to be the credit card and ACH transactions.
In this session we will walk though steps in the process, how we configured the JDE Reconciliation from start to finish and what we learned. Then added our own process automation – using JDE tools to solve the gap with the credit card and ACH transactions.
Now the majority of transactions our Bank statements are automatically reconciled (Receipt transactions to the G/L to the bank statement) and finance only has to select and manually match a few exceptions via the JDE application – and that is literally a side by side select and press the reconcile button! Gone are all the extra spreadsheets and extra hours of work!
This session is eligible for NASBA credit.