Reconciliation Account Settings

Reconciliation accounts can be opened in every currency, but for the sake of automating some processes, Core Banking allows you to define which reconciliation account opened in a specific currency should be used within a period of time. Thanks to these settings, Core Banking determines automatically the reconciliation account to be used for a currency at a specific date. For example, it validates the existence of a setting for a reconciliation account for a specific currency upon third-party agreement or agreement version approval. It also checks whether the reconciliation account setting has continuity for the entire validity period of the agreement. The reconciliation account is then automatically determined for usage within the third-party invoicing process.

The Reconciliation Account Settings menu item, accessible within the Portal's Admin Configurations menu, allows you to configure the default settings of reconciliation accounts.

IMPORTANT!  
Users with the associated role of Loan Admin Officer can view, insert, update, or delete reconciliation account settings records.

To manage reconciliation account settings:

  1. Log into FintechOS Portal.

  2. Click the main menu icon at the top left corner.

  3. In the main menu, expand the Admin Configurations menu.

  4. Click the Reconciliation Account Settings menu item to open the Reconciliation Account Settings List page.

On the Reconciliation Account Settings List page, you can:

  • Create a new reconciliation account setting by clicking the Insert button at the top right corner.

  • Edit a reconciliation account setting from the list by double-clicking it.

  • Delete a reconciliation account setting by selecting it and clicking the Delete button at the top right corner.

  • Search for a specific record by filling in any or all the column headers of the displayed records list.

NOTE  
You can only delete a setting if the reconciliation account associated to it is not part of a third-party invoice.
You can only edit the End Date of a setting if the reconciliation account associated to it is part of a third-party invoice. The End Date must be >= than the current system date.

Creating Reconciliation Account Settings

Follow these steps to create reconciliation account settings:

  1. In the FintechOS Portal, click the Insert button on the top right side of the Reconciliation Account Settings List page. The Reconciliation Account Settings page is displayed.

  1. Fill in the following fields:

Field Mandatory Data Type Details
Currency Yes Lookup Select from the list the currency of the reconciliation account.
Reconciliation Account Yes Bool This checkbox specifies that the account is an internal bank account, used for reconciliation.
Automatically checked by the system as True. Not editable.
Start Date Yes Invariant Date Select the starting date for Core Banking to use this reconciliation account for operations in the specified currency.
End Date Yes Invariant Date Select the ending date for Core Banking to use this reconciliation account for operations in the specified currency. End Date must be >= Start Date.

  1. Click the Save and Reload button at the top right corner of the page.

    Core Banking check whether the start dates and end dates don't overlap for reconciliation accounts defined for the same currency. If the validation passes, the reconciliation account setting is saved with a unique name in the form of Currency Code + Start Date.