Automatic Transaction Matching

Explanation

Use this activity to automatically match bank statement transactions with unmatched transactions in the cashbook. The loaded bank statement transactions and cash transactions that are unmatched until the bank statement date will be fetched to the Automatic Transaction Matching window. Then cash and bank transactions, which have the same values for currency code, amounts and user-selected attributes (defined for payment type groups) will be checked as matched. If value date is used for the payment institute then value date according to the Date Adjustment Factor too will be used during automatic matching.

Which amounts to match between cash and bank transactions depends on the currency in which cash account is maintained.

Example. For matching amounts

If cash account = accounting currency

Match: Amount in Acc Currency in cash transaction with Amount in bank transaction

If cash account = non accounting currency

Match: Currency Amount in cash transaction with Amount in bank transaction

Prerequisites

Bank statement transactions must have been loaded into the system before performing this activity.

System Effects

As a result of this activity, the transactions common to the cash book and the bank statement will be checked as matched.

Window

Automatic Transaction Matching

Related Window Descriptions

Automatic Transaction Matching (dialog box), Automatic Transaction Matching

Procedure

1. Open the Automatic Transaction Matching dialog box.
2. Enter the cash account, and reconciliation date. Payment institute and period will be fetched by the system.
3. Click OK. The Automatic Transaction Matching window will display with all transactions that have not been finally matched up until the reconciliation date. You will find cash book transactions on the upper section and the bank statement transactions on the lower section of the table. 
4. Right-click in the window header and then click Automatic Matching to automatically match the transactions.