Multiple Check Lot in FICA

[Former Member]

Hi Viewers,

In FICA Multiple check lots are created on daily . All the check lots are deposited in to bank for collection on the same day. At the end of the day while transferring to FI-GL each check lot entry is updated as separate entry

whereas bank is updating the single credit entry for all the check lot for the particular day. In this case, When I do the Bank reconcilation system ubable to find the exact amount, since the bank statement is having singel entry whereas system is having multiple entries as check lotwise.

Could anyone please suggest me how to overcome this issue.

Thanks in advance for the help

Regards,

Aswin

[Former Member · Accepted solution]

Hi

I think this is a difficult one. I guess if you could not tell the bank to seperate the amounts by check lots, then you should somehow find a way of summing up the daily lots so that the bank reconciliation system to work with the daily check lot totals for easy matching with bank single credit entry.

You might need to talk with your developers to write a proigram to sumup the daily lot for the purpose of the recociliation system.

Thanks.

regards,

David

[Former Member]

Hi David,

Thanks for your reply. I will try that...

Thanks

Aswin