External Transactions
The Oracle Fusion Cash Management transactions related to cash activity that was not recorded within the application. For example, transactions created from bank statement lines for bank charges. This guide will provide a detailed step-by-step process of creating External Transaction manually in Oracle Fusion cash management.
Click on the Navigator Icon to access the Cash Management module.
Select the “Bank Statements and Reconciliation” submenu by expanding the Cash Management menu.
Select the Create Transaction from the task list to create External transactions.
Select the Bank Account and Business unit from the list of values under which the external transactions are to be created.
Enter the transaction amount in the Amount field, and the amount with a negative sign means the outflow of the cash from the Bank account. Also, Select the date on which an external transaction is to be created in the Date field.
Mention the payment reference number that will be needed for reconciliation in the Reference field. Choose the transaction type (interest, revenue, miscellaneous, etc.) that will be used to categorize the transactions. Any relevant information should be entered in the Description field.
Enable the checkbox next to Account Transaction in order to create and transfer the accounting entry from the Cash Management of External Transactions to the General Ledger.
Cash Account combinations would be defaulted from the Bank account setups. By selecting the Distribution combination icon, the offset account combinations can be entered manually.
After entering all the account segment values manually or by selecting from the list of values, click on Ok button to continue.
To upload attachments, such as a soft copy of your bank statement, click the Plus icon.
Click on Choose File to upload the attachments from our local desktop.
After uploading, Click on the OK button to continue.
Once all the details are entered, click on the Save and Close button.
A message is displayed regarding the creation of external transactions. Click on the OK button to continue.
Click on the Manage Transaction from the task list to search the external transactions created.
Once all the parameters are entered, click on the search button to search the transactions
To carry out different tasks, including viewing the accounting entry, voiding the external transaction, and making changes to it, click Actions tab.
Accounting entry for the external transaction is generated only for the reconciled transaction. To view the Accounting entry, click on the View Accounting under the Actions after selecting the transaction.
This is the accounting entry generated for the external transaction created. Click on the Done button to close this window.
This guide has walked through the steps involved in creating manual external transactions, beginning with accessing the Create External Transactions page. It has also covered the process of creating the accounting entry for external transactions.