Account Reconcilement Complete User Guide

KeyBank (Key) provides a full suite of reconcilement solutions, including Full, Partial and Deposit Reconcilement. Partial Account Reconcilement Plan (ARP) provides a listing of numerically sorted paid checks. Full ARP provides a complete itemized list of all paid and outstanding checks and exception items. This service requires that you submit a check issue file to Key. The Deposit Reconcilement offering provides a list of deposits by store/location number.

Key’s ARP service helps to expedite the internal reconcilement process by providing a report of paid checks, including: serial number, dollar amount, and date, along with any stop payments. Our Full service also provides cancelled checks, paid exceptions, e-check/ACH items, and outstanding checks (unpaid).

Key also provides payee verification (payee positive pay) as an added layer of protection. This service compares the payee information on items presented for payment to the issue data that you provide to us. Items that do not match the issue file are presented for your review.

1.1 ARP guidelines

• Your service start date coincides with your first full statement cycle. The implementation date is the date testing is completed and the file moves into production.
• You should submit your file of issued checks as soon as possible after checks are issued. For Positive Pay processing, the deadline is 11:00 p.m. ET on the day prior to the physical distribution of checks (this includes manually issued checks).
• You can manually enter issue or cancel information through the Payables section of KeyNavigator, by utilizing the Check Issue Maintenance function within Account Reconcilement.

 

• Checks that are manually added after the period-end reconciliation has been completed will be added to the next month’s reconciliation. You should complete these manually added items by the last day of your statement cycle.
• You are responsible for validation of any Paid No Issue (PNI) items on your reconcilement as a result of an incomplete or missing issue file.
• You will need to use the file date on all Canceled/Voided items, as using the issue date will change the Previous Outstanding Balance.
• If using KeyNavigator, you will automatically be granted access to the Daily Audit Listing Report. This report shows all issues and cancels on the previous day’s file and will be available for you to review after 8:00 a.m. ET.
• In the event that an incorrect file was sent to Key, you will need to have the file backed out. Please send an email to ARP_Transmissions@keybank.com, and make sure to include your name and phone number in the email. In the subject line put “Need File Assistance.” An associate will then assist you. You can also call Commercial Banking Services at 800-821-2829.

This section will outline how to access your ARP reporting.

• Select Account Reconcilement from the Payables section of KeyNavigator.

• Then select Account Reconcilement (ARP) Reports from the main page.

• Utilize the dropdown menu to select the appropriate account, and then click Next.

• Utilize the dropdown menu to select the type of report you wish to view.

• Check Reconciliation – Period Ending – The Check Reconciliation report will provide a listing of paid checks, and if you are on Full ARP, you will also receive a listing of outstanding checks and exception items. These reports are available online for 13 months.
• Deposit Reconciliation – Period Ending – This report provides a list of deposits by store/location number. These reports are available online for 13 months.
• Daily Reports/Audit Listing – The Daily Audit Report contains details from the issue file and confirms that your file was received. Additionally, you can confirm receipt of your ARP file by checking the audit listing. These reports are available online for 62 days.
• Corporate Banking Statement –The end-of-period banking statement. These reports are available online for 13 months.

• Select Next.
• From this screen, you can view a PDF version of the selected report by clicking on the report that you wish to view; change the account number by clicking on Change Account; or change the type of report by clicking on Change Report Type. Select Main Page to return to the Account Reconcilement page.

 

Check maintenance services enable you to manually add or cancel issue records or inquire into the status of a check. Adds and Cancels process just like an Issue File Transmission and update the ARP and Positive Pay systems as they are submitted. You can create up to 20 entries at a time. Adds should be submitted before checks are distributed. The Check Issue Inquiry function is available on business days, 8:30 a.m. – 11:00 p.m. local time.

3.1 Inquiry on Status of a Check

• Select Check Issue Maintenance from the Account Reconcilement page.

• Use the dropdown menu to select the appropriate account.
• Choose Inquire – Check Issue Record from the available selections.

• Select Next.

• Enter a beginning check number in the From field.
• Enter an ending check number in the To field. (Optional)
• To further limit results, under Advance Search Criteria, click Apply to show additional fields. (Optional)
  • Enter a minimum and maximum check amount.
  • Utilize the dropdown menus to enter an issue date range.
  • Utilize the dropdown menus to enter a paid/post-date range.
  • Utilize the dropdown menu to select a status.

• Select View.
• A listing of up to 250 checks, including the associated statuses, will be compiled. The items are displayed based upon the services for which you are set up, such as payee name verification.
• If more than 250 results were returned, select Modify Your Search Criteria to return to the Check Issue Inquiry screen to further limit the results.

• From the Check Issue Listing screen, you can return to the Account Reconcilement page by selecting Main Page or search for another check(s) by selecting Perform Another Inquiry.

3.2 Adding a Check Issue Record

• Select Check Issue Maintenance from the Account Reconcilement main page.

• Use the dropdown menu to select the appropriate account from which the new check has been issued.
• Choose Add – Check Issue Record from the available selections. Select Next.

• Manual - Input the check number(s), dollar amount(s), and any other pertinent data into the appropriate fields.

• Select Add More to input more than 10 adds. (Optional)
  • Total limit is 50
• To delete these Adds, select Cancel. To continue to process, select Next.
• Upload – to send your formatted CSV check issue file select “choose file.” File explorer will open to choose the desired file. Once the file is selected and uploads click “next”

• Review the information provided on the Add Check Issue Approval screen. To delete the items, select Cancel. To make changes to all or any of the adds, select Edit to return to the Add Check Issue Entry screen and change information. To process the adds, select Accept.

• The Add Check Issue Confirmation screen will appear. Any checks that were unable to be added will be highlighted in red and additional information will be provided in the status column. To return to the Account Reconcilement screen, select Main Page. To add more checks, select Perform Another Add.

• If an error is detected after selecting Accept, contact the ARP team at ARP_Transmissions@keybank.com or Commercial Banking Services at 800-821-2829.

3.3 Cancelling a check issue record

• Select Check Issue Maintenance from the Account Reconcilement page.

• Use the dropdown menu to select the appropriate account from which the new check has been issued.
• Choose Cancel – Check Issue Record from the available selections. Select Next.

• Input the check number(s), dollar amount(s), and any other pertinent data into the appropriate fields. Select Add More to input more than 10 cancels. (Optional)

• To delete these cancels, select Cancel. To continue to process, select Next.
• Review the information provided on the Cancel Check Issue Approval screen. To delete the items, select Cancel. To make changes to all or any of the cancels, select Edit to return to the Cancel Check Issue Entry screen. To process the cancels, select Accept.

• The Cancel Check Issue Confirmation screen will appear. Any checks that were unable to be cancelled will be highlighted in red and additional information will be provided in the status column. To return to the Account Reconcilement screen, select Main Page. To cancel more checks, select Perform Another Cancel.

 

The Check Issue History Report provides a listing of adds and cancels entered via KeyNavigator, along with their status, the time/date of entry and the user that created the entry.

NOTE: Checks that were added or cancelled via other means, such as faxing a request to the ARP department, will not appear on the Check Issue History Report.

4.1 To access the check history listing

• Select Check Issue History from the Account Reconcilement main page.

• Use the dropdown menu to select the appropriate account from which the new check has been issued. Click Next.

• Enter a beginning check number in the From field.
• Enter an ending check number in the To field. (Optional)
• Enter a minimum and maximum dollar amount.
• Utilize the dropdown menus to enter an issue/cancel date range.
• To further limit results, choose to Apply advanced search criteria to show additional fields. (Optional)
  • Input payee data included on the entry.
  • Input other data included on the entry.
• Select Cancel to return to the Check Issue History Account Filter screen. Select Download to download the listing in an Excel format. Select View to display the results.
• If View is selected, the Check Issue History Listing will be displayed. You can sort results by column heading by clicking on the up and down arrows. You can also limit results further by clicking on the Filter button to return to the Check Issue History Filter screen and apply additional parameters. Selecting Unfilter will return you to the original results. Results can also be downloaded and saved by selecting Download. To return to the Account Reconcilement page, select Main Page.

 

ARP – Account Reconcilement Plan – the name of the reconciliation service Key offers.

Cancel – A request that is made by you to remove a check issue from the outstanding balance (full reconcilement only). It should only be used for a check that is in your possession.

Duplicated Paid – A check is currently being presented that was paid previously.

Issue – Data you provide related to checks issued from your Key account.

Key – KeyBank.

PNI – Paid No Issue. An item that has paid but no issue information was provided in the data file.

Sequence # – An eight-digit number listed on your Reconcilement Report for every paid check, which is Key’s internal ID number assigned to each check.

Void – See the definition of cancel.