Bank Statement Lines
So many codes in the lines that are there in a Bank Statement. It contain lots and lots of meaningful information that can help automated many tasks. Explore more!
Bank Statement Lines
Given below are the types of transactions that generally constitute a bank statement-
- Payments
- Receipts
- Cashflows
- Miscellaneous transactions
- Each transaction is further supported with additional information.
The typically available information is could be of the nature shown here.
This additional information is very critical for automated reconciliations as you will notice in the upcoming articles.
Additional Information
- Line number
- Transaction type
- Transaction Date (bank transaction date)
- Amount
- Bank transaction code
- Bank transaction identifier (such as the payment or deposit number)
- Currency information (currency code, original amount in transaction currency, exchange rate)
- Value date
- Agent (customer or supplier)
- Agent bank account
- Comments
- User-defined additional information
Related Links
You May Also Like
-
Suspense and clearing accounts resemble each other in many respects but there exists important fundamental difference between the two. Read more to explore these differences.
-
Bank Reconciliation is a PROCESS to Validate the bank balance in the general ledger With Bank Statement. Learn the bank recon process.
-
In the previous article we talked about the meaning of the account reconciliations. Now as you now the definition of account reconciliation, in this article let us see why it is carried out.
-
Many different accounts are used in finance. Understand the representation and nature of clearing account in context of accounting, finance and ERP Systems.
-
What is Account Reconciliation?
Before you understand the Bank Reconciliation Process it is important to understand what is account reconciliation and why it is carried out.
-
In manual clearing, Bank statement details are to be matched manually considering certain rules. Learn the steps involved in manual clearing of bank transactions.
-
Although there is no straight forward answer to the question, how to best organize a treasury function, this article provides an generic view of the way large MNCs creates departments or sub-functions within the treasury function.
-
Treasury has increasingly become a strategic business partner across all areas of the business, adding value to the operating divisions of the company. Managing activities that were traditionally carried out within the general finance function. Learn about the drivers for this change.
-
Before we dive into cash management, let us fist understand what we mean by cash and what constitutes cash in context of cash management process.
