Bank Statements and Banking Entries
You process bank statements in three distinct steps:
• Import or create the bank statement.
• Allocate statement lines.
• Save the allocations in the general ledger and in the relevant sub-ledgers.
Creating Bank Statements
Generally, a bank statement consists of multiple statement lines. Each line is an incoming or outgoing transaction on the bank account. You can create statements manually or automatically. See
Electronic Banking Setup for information on importing bank statements electronically.
In the manual process, you create banking entries to match the information received in hard copy from the bank. Each statement has one of the following statuses:
Unallocated: No statement lines are allocated.
Partially Allocated: Some (but not all) statement lines are allocated.
Allocated: All statement lines are allocated.
Each statement line has one of the following statuses:
Unallocated. No allocation is performed for this line.
Partially Allocated: Part of the line is allocated, but not the total amount. A statement line cannot be saved in this state.
Allocated: The line is allocated, but not yet saved to the database.
Allocated and Posted: The line is allocated, and successfully saved to the database.