Monitoring Controls Over Cash Management Key Processes

Guideline Recommendations

This document should be utilized as a guideline for developing, monitoring and reviewing procedures for cash management. Note that this document includes only key processes and is not a fully inclusive listing of the controls to be created.

It also describes the reports that can be used for monitoring activities.

Initial setup of bank accounts and cash management information should be monitored and approved by the appropriate management. Bank statements should be reviewed and reconciled by appropriate individuals.

Monitoring controls for Initial Bank Statement Import

• A daily review should be performed over the bank statement import and AutoReconciliation process to verify the appropriate receipt and disbursement file was obtained and loaded.
• A review of the Bank Reconciliation Window should be performed to identify any errors, which may have occurred during the BAI import.
• Reports used to monitor bank statement import: AutoReconciliation Execution Report – Automatically generated during the automatic reconciliation process, showing import and reconciliation errors that occurred when running the AutoReconciliation program

Monitoring controls for Reconciling Bank Statements

• Bank Statement Detail Report – Shows statement and transaction information for a specific bank account statement, including bank statement header information, statement line detail and reconciled transaction detail. Identifies any unreconciled transaction separately with their current status and the statement total for each type of transaction.
• General Ledger Reconciliation Report – Shows how the bank position reconciles to the general ledger for a specific period. Compares the bank position to the general ledger position and lists the total reconciled and unreconciled statement line amounts in Oracle Cash Management, indicating any discrepancies in the cash position.
• Bank Statement Summary Report – Identifies summary bank statement information by bank account.
• Bank BAI File
• Transactions Available for Reconciliation Report
• Daily bank reconciliation and documentation (Bank BAI file, Bank Statement Summary Report, and General Ledger Reconciliation Report) should be forwarded to appropriate management personnel for review and approval.

Monitoring controls for Posting to General Ledger

• Import execution and exceptions reports are reviewed to verify data was transferred completely and accurately.
• Reconciliations are performed between cash balances and the General Ledger
• Reports used for monitoring activities are Import Execution Report and Journal Execution Report

Change History

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