Electronic Statement Format

July 4, 2019 in Cash Management

Purpose

This procedure is used to define the electronic statement format used by your Bank if you want to upload bank statements into the system. This format is used in automatic bank reconciliation to ‘map’ the data from the electronic bank statement you receive from your bank to the data elements required in the Online Advantage Bank Reconciliation process. Once you have defined the statement format for the bank, you enter that against the banks details.

See related topics:

Data Input

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Step 1 – Statement Format

Format Code

Enter a new, unique format code, that does not already exist on the system.
You may select an existing format code for editing.

For details on the use of “codes”, see The Role of “Codes” in Online Advantage
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Step 2 – Format Details

The information below will be used to read Electronic Bank Statement files in Automatic Bank Reconciliation.

Format Name

Enter a name to describe the statement format. This will be used when selecting a format to associate with the bank in Bank Details entry.

For more details on descriptions, see The Role of “Names & Descriptions” in Online Advantage

File Type

Displays the standard file type – csv file. Only csv (Comma Separated Value) files can currently be used in Automatic Bank Reconciliation.

Headings

Select this if the statement file includes a column headings row as the first row of the file.

Expected Fields

Enter the number of expected columns in the statement file.

Reference Position

Enter the column number the reference in the statement file is in. e.g. If it is in spread sheet column ‘A’ enter 1

Date Position

Enter the column number the transaction date in the statement file is in.

Date Pattern

Enter the format of the date in the statement file. e.g. dd/MM/yyyy

Amount Position

Enter the column number the transaction amount in the statement file is in.

Debit Amount Position

Enter the column number the debit amount in the statement file is in.

Transaction Type Position

Enter the column number the transaction type in the statement file is in. The Transaction Type distinguishes the type of transaction appearing on the statement e.g. deposit, credit, fee etc.

Transaction Types

In Online Advantage, certain codes are used to define transaction types. The transaction types appearing on statements will vary from bank to bank, so for each bank statement format, the transaction types on the statement needs to be ‘mapped’ to the Online Advantage transaction type codes.

Choose the Online Advantage transaction type and enter the corresponding ‘code’ that the bank uses to define the same type of transaction on their electronic statements. For example, for deposits, the OA code is ‘DEP’, the bank might show ‘C’, ‘dep’, ‘deposit’, “Cash” etc

The OA transaction types and corresponding bank codes are entered as a list. Enter all the transaction types that might appear on your statements.

Other Details

This may be a description on the bank statement explaining bank charges or interest details.
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