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
-
Unravel the mystery behind clearing. Why we use clearing accounts. Find the relevance of word "Clearing" in business context.
-
Have you ever wondered what is actually a Bank Statement and why it is needed. What is the information that is available in a bank statement?
-
The Cash Clearing process enables you to track amounts that have actually cleared your bank. Till reconciliation happens the amounts are parked in 'Cash Clearing Account'.
-
Cash Management - Integrations
Cash Management integrates cash transactions from various sources like Receivables, Payables, Treasury and creates reconciliation accounting entries after matching transactions with Bank Statements.
-
Cash Clearing – Accounting Entries
The Cash Clearing process enables you to track amounts that have actually cleared your bank. Learn the steps and accounting entries that gets generated during the cash clearing process.
-
The objective of Financial risk management is to protect assets and cash flows from any risk. Treasury function works to accurately assess financial risks by identifying financial exposures including foreign exchange, interest rate, credit, commodity and other enterprise risks. Learn about the various risks that are managed by treasury.
-
Introduction to Cash Clearing Process
Unravel the mystery behind clearing accounts. Learn why clearing accounts are used in finance and accounting. Learn why so many clearing accounts are defined in ERPs and Automated Accounting Systems.
-
Account Reconciliation – How? Learn the three key attributes to perfom account reconciliation.
-
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.
-
Effectively using cash management with trade finance products brings tangible benefits to both corporates and financial institutions.Learn the various benefits of cash management process.
