Overview

 

Matching is the process that pairs a bank record with a general ledger record (or sometimes multiple records).  For example, a cleared check on the bank side is matched with the issued check on the general ledger side.  These records are either time-based exceptions (a deposit in transit or an outstanding check, both of which will have a match once enough time passes) or permanent exceptions that should trigger an investigation.

 

What Creates a Match

 

Matches are created based on attributes. For example, check number to check number and amount to amount is a very basic two-attribute match used for checks.  For more information, see Types of Matches

 

Bank Reconciliation makes one pass through the unmatched records looking for matches for each set of matching rules turned on.  For example, by default, check to check, void to issue, and non-check are turned on.  Bank Reconciliation will attempt to match the data using three separate passes.  It will apply the check to check rules for the first pass, void to issue for the second pass, and non-check matching for the last pass.

 

Unmatched records remaining after system and manual matching is rolled forward to the next period.

 

Matching Processes

 

Bank Reconciliation performs two kinds of matching:

 

1.  System Matching (also called Automated Transaction Matching)

2.  Manual Matching

 

System Matching

 

When activated, Automated Transaction Matching matches bank records to general ledgers in a high speed process.

 

Records can remain unmatched for a variety of reasons, such as:

 

•Unrecorded bank transactions (interest, fees)

•Items that have not cleared the bank (outstanding checks, deposits in transit)

•Disputed items

•Possible fraud items

•Bank records that need multiple general ledger records to create a match

•Non-check records with date outside the set range

•Transactions with site number on one transaction but not on the other

 

Of these, Bank records that require multiple General Ledger records can be matched manually.  The others cannot be matched with the currently imported data and using the current date range.

 

See Performing System Matching to learn how to start the process.

 

Manual Matching

 

The Manual Matching windows displays a list of all unmatched records (bank records on left side, general ledger records on right side).

 

Using a point-and-click interface, you can match records on a one to one or many to many basis.

 

See Performing Manual Matching to learn how to match records by hand.