Process Map. Pickerings Auto Group. Administration Module. Process Code: A320 Bank Account Reconciliation

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1 Process Map Pickerings Auto Group Administration Module Process Code: A320 Bank Account Reconciliation

2 2 Contents High Level Process Definition... 3 Business Policies... 4 Escalate Banking Variances... 4 Procedures... 5 Bank Account Reconciliation... 5 Statement of Work... 6 Introduction... 6 Bank Account Reconciliation... 7 Escalate Banking Variances... 8 Process Flowchart Program Parameters... 11

3 3 High Level Process Definition Process Name Process Intent Process Owner Process User Process Starts with Process Ends with Process Customer Bank Account Reconciliation To produce a reconciliation report between the General Ledger Balance and the Bank Statement Dealership Admin Dealership Admin Bank Statement Processing completed Bank Account / General Ledger variances accounted for and eliminated Financial Controller

4 4 Business Policies The following Business Policies are applicable to the execution of the processes defined and referred to in this Process Map. Business Policy A Escalate Banking Variances Daily banking must be done first thing every morning, and be completed by 10am. If there is an imbalance, escalate to your Financial Controller immediately, in order to find a resolution as quickly as possible. Process Owner: Dealership Admin

5 5 Procedures Process Description: Bank Account Reconciliation Process (Major) Steps 1. Produce Bank Account Reconciliation Report Objective: To confirm that Bank Statement Processing has been completed and to complete the Bank Reconciliation process Procedure a. Open Bank Account Reconciliation window b. Select Bank Account c. Review Bank Account Reconciliation Report. Click ellipses buttons against Plus Unpresented Cheques, Less Outstanding Deposits and Less Deposits in Process to view details of each category d. Resolve any Variances and repeat process until Variance = $0.00 e. Clear Matched Transactions indicator f. Click Save & Print Internal Policy

6 6 Statement of Work Introduction This is the final task in the bank account reconciliation process and produces a Bank Account Reconciliation report. If a transaction has been confirmed in bank statement processing must be cleared here. It is recommended that this only be done once satisfied that the bank reconciliation is correct.

7 7 Bank Account Reconciliation Open the Bank Account Reconciliation window. Select the Bank Account to report on. The Report detail will be populated to the window. Any variance must be resolved and the process repeated until the bank reconciliation is correct when the Actual Bank Statement Balance is equal to the closing balance of banks account - Variance is $0.00.

8 8 Business Policy A Escalate Banking Variances Daily banking must be done first thing every morning, and be completed by 10am. If there is an imbalance, escalate to your Financial Controller immediately, in order to find a resolution as quickly as possible. Process Owner: Dealership Admin Users can access details of Unpresented Cheques, Outstanding Deposits and Deposits in Process by clicking the ellipses button against the respective entry in the display.

9 9 Select the Clear Matched Transactions box. Click the Save & Print button, to Clear Matched Transactions.

10 10 Process Flowchart

11 11 Program Parameters The following notes define the parameters applicable to the application described in this Process Map.