Customize the Statement Intelligence default settings

To reconcile bank account statement lines, they must be matched and applied with journal ledger entries. The journal ledger entries can be created in either a general journal, a cash receipt journal, a payment journal, or an employee payment journal.

In the following, you'll see how to configure the Statement Intelligence Setup and how to set up Statement Intelligence on the bank account card.

Adjust the default Statement Intelligence Setup

Statement Intelligence is already set up with default values, but should you need to change this setup, you can do so by following these steps:

1. From the Role Center, search for Payment Management Setup and choose the related link.

2. From the Payment Management Setup page, select Manual Setup.

3. Select Statement Intelligence Setup.

   

   On the General FastTab, you can control how you want Statement Intelligence to manage and create journal lines in the bank account reconciliation when you import bank account statements:

   • Handle Cash Receipt Journal Lines
   • Handle Payment Journal Lines
   • Handle Employee Payment Journal Lines
   • Handle Reversal Lines

   For each of these lines you can choose between the following settings:

   • Create Suggestion
     Create Suggestion Journal lines are automatically generated as reconciliation suggestions if open ledger entries can be identified based on customer-, vendor-, or employee number, payment ID, or document no. as search parameters. If reconciliation rules have been defined, these will also be used to generate potential reconciliation suggestions.
   • None
     Journal entries will not be created. Instead, you can access the No. of Reconciliation Suggestions on the imported bank statement line and create the journal line suggestions from there.
   • Create Lines on Import
     When importing a bank account statement, ledger entries will automatically be created, matching all the imported bank account statement lines 1:1. You must then manually validate and delete journal lines that are not created correctly.
   • Create Lines Manually
     This setting is very similar to the setting Create Suggestion; however, the journal line suggestions are not created automatically in the journals. Instead you must manually create the journal ledger entries using the action Create journal lines.

Furthermore, on the General FastTab, you can enable:

• Renumber Journal Document Nos if you want the document numbers in journals used for bank account reconciliation to be renumbered automatically before posting.
• Include Statement No. in Journal Description if the account statement number from the bank account reconciliation must be included in the description of journal lines created by Statement Intelligence.

On the Default Journals FastTab, you define the default journal batch to use in the bank account reconciliation when handling differences with no related document.

Configure Statement Intelligence on a bank account

In some situations it can be necessary to use specific journals for specific bank accounts in the bank account reconciliation. On the bank account card, you can further define journals for customer, vendor and employee. In addition, the bank account card also contains further options for setting up Statement Intelligence.

1. From the Role Center, search for Bank Accounts and select the relevant link.

2. Select a bank from the list, for example, CPM-BARCLAYS.

3. Scroll down to the Statement Intelligence FastTab. The journals are set up as in the Statement Intelligence Setup, but you can make the changes if you need to.

   • In the Tolerance Deviation Auto Suggestion fields for both customer, vendor, and employee, specify an amount to allow a deviation in amount between the bank statement line and the ledger entry. This means that a journal line will be created even though there is a difference in amount between the bank statement line and the ledger entry, as long as the difference is smaller than or equal to the amount specified in the field.
   • Enable Multiple Bank Statements per Reconciliation to allow the import of multiple bank statements into the same bank account reconciliation.
   • In the Aggregation Period field, specify if the aggregation of bank statements in a bank account reconciliation should be limited to a given period. You can choose between: Blank, Current Week, and Current Month. If the field is left blank, there will not be any restrictions for aggregating bank statements. If you choose a period, bank statements can only be compiled to the bank account reconciliation if the Statement Date of the imported bank statement is within the given period.
   • In the Create New Reconciliation field, choose if Statement Intelligence should automatically create a new bank account reconciliation if the statement date on the imported bank statement is outside the allowed period for aggregating bank statements in the bank account reconciliation.
   • Enable the Import All Available Statements field if you want to import all available statements to the same bank account reconciliation. Before you can turn on this functionality, the toggle Allow Multiple Bank Statements must be turned on.

Video

This video demonstrates the general setup of Statement Intelligence and the setup of Statement Intelligence on a bank account. Note that this video was recorded in Payment Management 2022 R1.