Reconcile Book to Bank Balance (70.5)
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Reconcile Book to Bank Balance (70.5)
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Implemented in CMS Wave
Business Process Overview
Section 17.57, Florida Statutes (F.S.), requires the deposit of money in the State Treasury to be deposited in qualified public depositories. Section 116.01, F.S., requires funds collected and due to the State to be deposited in the State Treasury no later than seven working days from the close of the week in which funds were received. Section 215.31, F.S., provides that revenue collected or received shall be promptly deposited in the State Treasury, immediately credited to the appropriate fund, and properly accounted for by the Department of Financial Services (DFS) as to source. Section 17.52, F.S., provides that DFS Division of Treasury (Treasury) is responsible for paying all warrants on the State Treasury drawn by the Chief Financial Officer (CFO) and other orders by the CFO for the disbursement of State funds by electronic means. Section 17.555, F.S., requires Treasury to keep a record of the warrants or other orders of the CFO that Treasury pays.
Business Process Diagram
Dependencies and Constraints
- Receiving bank transactions is dependent upon bank systems being operational and the availability of statement files.
- Daily bank statement reconciliation must be completed for all statements in the month before balances can be reconciled.
Business Roles
The Business Process Flow Diagrams use horizontal swim lanes to depict where activities are performed by different parties or systems. Each swim lane is titled with a role, either agency-based or within DFS, and in some cases, are representative of an external entity or system. The swim lanes may change from page to page within a single business subprocess as more or fewer roles are required to execute sections of the business subprocess.
- Book to Bank Reconciliation Processor: DFS role responsible for reconciling bank account balances to ledger balances in Florida PALM
- Exception Handler: Agency or DFS role responsible for resolving exceptions in Florida PALM
- Agency Banking Reporter: (role not shown as a swimlane on flow diagram) Agency role responsible for running cash management reports
Business Process Flows Details
The tables below describe steps in each business subprocess as reflected on the Business Process Flow Diagrams. The tables also reflect information associated with each step describing the intent of the specific process. Florida PALM screenshots are included within the sections to allow connections to be made from specific business subprocess steps to screens within Florida PALM. This information should be read in conjunction with the Business Process Flow Diagrams.
Process Step Title | Process Step Title | Description of Process |
|---|---|---|
1 | Identify Need for Book to Bank Reconciliation | At the end of each month, the Book to Bank Business Processor confirms that transactions have been posted and all bank statement transactions are reconciled in Florida PALM. If all statements are not in a final status, then the 70.2 Manage and Reconcile Bank Statements business process must be completed. If all statements are finalized, then the Book to Bank Reconciliation Processor runs the Book to Bank Reconciliation process. |
2 | Run Book to Bank Reconciliation | The Book to Bank Reconciliation process confirms that the ledger balances reconcile with the month end bank statement balance. If the account balances do not match, the Book to Bank Reconciliation Processor resolves the exceptions following the 70.2 Manage and Reconcile Bank Statements business process. Once balances are corrected, the Book to Bank Reconciliation Processor reruns the Book to Bank Reconciliation. |
3 | Review Exceptions | If the balances do not reconcile, the Book to Bank Reconciliation Processor verifies:
|
4 | Resolve Exceptions | Once the source of the exception is identified, the Book to Bank Reconciliation Processor works with the source agency’s Exception Handler to resolve the exception within Florida PALM or if necessary, the agency’s external business system. Once balances are corrected, the Book to Bank Reconciliation Processor reruns the Book to Bank Reconciliation. |
5 | Report Cash Balances | If the balances in Florida PALM reconcile, the Book to Bank Reconciliation Process is complete. The Book to Bank Reconciliation Processor reports the cash balances in Florida PALM to create the monthly Governor’s report. |
6 | Close Cash Management Period | Once the Book to Bank Reconciliation has occurred, the period is closed to ensure no automated transactions from bank statement processing post to prior periods. Any prior period entries generate an exception and are handled through the regular exception process. |
Accounting Events
Accounting events originate during transaction processing in the applicable source module. The accounting events impact the source module, Commitment Control ledgers, and the General ledger (Actuals).
- Source Module accounting entries require user input (I) of the primary line (i.e., expenditure, revenues) with an automated (A) system offsetting line (i.e., payable, receivable) during transaction entry. The source model transaction must pass Edit Check, Budget Check, and Cash Check (on applicable entries) prior to posting the transaction.
- The Run Budget Check (Commitment Control) process automatically affects balances in the appropriate budget ledger (i.e., appropriation, spendable cash) if the transaction passes the budget check process.
- After the transaction is posted in the source module, an automated system process summarizes and posts the entries in the General Ledger module to the Actuals Ledger.
The table below provides the most common accounting events applicable to this business process.
Acct Event ID | Accounting Event | Source Module Accounting Entry | Commitment Control Ledger(s) Impact | General Ledger (Actuals) Entry |
|---|---|---|---|---|
N/A |
Reports
Key Reports are displayed as icons with the Report Number on this Business Process. The table below provides the reports identified to be produced at a particular process step or is used to support the completion of a process step.
Report Number | Report RICEFW ID | Report Description | Report Source | Report Frequency | Audience |
|---|---|---|---|---|---|
R1 | CMR009 | Unreconciled Book to Bank Accounts – provides bank accounts that have not been confirmed during Book to Bank Reconciliation. | N/A | Monthly | DFS |
R2 | GLR150 | Balance Summary Register Report – provides data to reconcile cash balances in Florida PALM. The data is used to create the Governor’s Reports. | N/A | Monthly | DFS |
R3 | GLR151 | Cash Balance by Fund – provides data by individual trust fund and GR. The data is used to assist the CAFR division and Auditor General. | N/A | Monthly | DFS |
Interfaces
The table below provides the Interfaces identified on the Business Process.
Interface Number | Interface Description | Interface Frequency | Source | Target |
|---|---|---|---|---|
N/A |
Forms
The table below provides the forms identified on this Business Process.
Form Number | Form Description | Audience |
|---|---|---|
N/A |
Workflows
The table below provides the workflows identified on this Business Process.
Workflow Number | Workflow Description | Audience |
|---|---|---|
N/A |
Version History
Date | Revision Description |
|---|---|
02/12/2025 | Original Version |
Design Document(s)
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