Bank reconciliation

Bank follow-up begins after a payment has a release result. The payment register shows its direction, date, amount, method, status and bank reference. Treasury Analyst uses those details to compare the internal record with the bank’s outcome. A Reconciled status is the final recorded match; a Failed status sends the payment back for investigation.

• Collect released items. The waiting list focuses attention on payments whose status is Released.
• Compare the bank result. Treasury Analyst checks direction, amount and reference against the statement or other bank evidence.
• Record the outcome. The team captures the reference and resulting status, then keeps supporting material with the record.

Choose the banking source the team will use for each payment method and decide who enters a bank reference. Define how often released items are checked and who resolves a mismatch. A bank statement can be retained as record attachments evidence. Agree how treasury distinguishes a bank rejection from an internal release failure and how it informs AP Specialist or AR Specialist when an originating obligation or invoice needs correction.

Take a released outbound payment whose request link and amount are known. Compare it with a bank entry of the same amount and direction. Record the bank reference and confirm the payment as Reconciled when the match has been reviewed. Preserve the supporting statement in the attachment record. Controller can inspect the payment, its request and the release receipt to see both the internal action and the later bank outcome.

Now rehearse a bank rejection. Keep the payment visible as Failed, retain the bank reference and explain the result in the payment memo. The team should examine the original request before deciding whether to schedule a replacement. A status change alone should never be used to erase the release receipt or the bank’s reported failure.

For an inbound payment, start from its invoice link; for an outbound payment, start from its payment request. Those links let Treasury Analyst investigate a difference without guessing which obligation the bank entry belongs to. Record the bank reference on the payment and keep the statement attachment tied to the right parent record, then show Controller the unresolved item.

• Payments Awaiting Bank Reconciliation — Find Released payments that need a comparison with bank evidence.
• Treasury Payment Register — Check payment direction, amount, method, reference and recorded outcome.
• Payment Pipeline — See Scheduled, Released, Reconciled and Failed payments by status.

See the related process for the operating sequence. Use the data model to map source identifiers before import and implementation to rehearse the handoff with your team.