Monarch Exercise 37 - Federal Statement Journal Entry Reclass

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Exercise Info

• Application (Classic vs Data Prep Studio): Classic or Data Prep Studio
  
• Level of Difficulty (Beginner, Intermediate, Advanced): Beginner
• Skills/Features Tested:  Templates (Detail,Append) & Summary
  
• Systems of Record: Not Applicable
  
• Estimated Time to Solve: 15 mins
• Exercise files required are attached Below;
  
  • ADPB501U - Federal Reserve Statement of Account Sample.txt
  • ADPB501U - FRB ACH Detail of Own Activity.dmod (witihn Zip file)
  • FRB GL LookUp - Sample Data.xlsx

Exercise Overview

You are an Accountant at a Financial institution your manager has asked you to perform the following tasks based on the Federal Reserve Summary Statement of Account:

1. Create a model to capture data from the 'Detail OF OWN ACTIVITY' section within the report, and create a summary for the total activity for all the 'SAME DAY' Activity (originated, and received). What is the total debit and credit?
2. Join the data to the FRB GL LookUp - Sample Data.xlsx to create Journal Entry Reclass for Debits and Credits.

Answer

• Please upload your answers below in the comment section for the exercise
• A Video Answer to the question will be published within 7-10 days on the Monarch Succcess Plan page in the 'Monarch Exercises' section.

ADPB501U - Federal Reserve Statement of Account Sample.txt

ADPB501U - FRB ACH Detail of Own Activity - Model.zip

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FRB GL LookUp - Sample Data.xlsx