Bank Reconciliation: Transaction Matching

Auto-Matching

In MYOB Acumatica, the automatic matching process uses the available information about imported transactions when searching for matching documents and calculating the relevance rate, which is a measure of how closely a document matches the selected transaction. When you run the auto-matching process, the system searches for possible matching payments and for documents to which it can apply each transaction. If it does not find possible matching payments or documents for application, the system suggests that you create a payment. To run auto-matching, you click Auto-Match on the form toolbar of the Process Bank Transactions (CA306000) form.

To find the matching payments for a bank transaction, the system filters the cash account transactions by the specified match settings and calculates the match relevance for the possible candidates. The relevance shows how similar the bank transaction is to one cash account transaction or multiple transactions in the system. The transactions are compared by three factors: the reference number, the transaction date (document date), and the payee name (if any). The candidates with high relevance are recognized as the best candidates and are matched automatically.

Matching to Multiple Documents

It is not uncommon that a company receives one bulk transaction that includes several documents from different customers or vendors. In this case, they might need to match them all to one bank transaction in the system instead of matching one bank transaction to one bank document. In MYOB Acumatica, you can match one bank transaction to multiple documents (invoices, credit memos, payments, bills, debit adjustments, receipts, and disbursements). The sum of the matched document amounts minus the amount of credit memos for AR documents or of debit adjustments for AP documents must be equal to the amount of the bank transaction.

After you select the appropriate check boxes on the Match to Payments or Match to Invoices tab, you start selecting the Matched check box next to the documents you want to match to the selected bank transaction. With every document you select, the system updates the values in the Matched Amount and Unmatched Amount boxes respectively. You need to proceed matching until the sum of the amounts of the selected documents becomes the same as the amount of the bank transaction—that is, until Matched Amount equals Transaction Amount. Only then the matching is successfully completed, and you can process it.

On the Match to Invoices tab, you can match one bank transaction to any number of invoices and credit memos (from a single customer or multiple customers that are in a parent-child relationship) and immediately create a cash transaction for one associated charge. Also, you can match one bank transaction to any number of bills and debit adjustments from a vendor.

To match a selected bank transaction to an invoice and enter a charge, you perform the following steps on the Match to Invoices tab of the Process Bank Transactions form:

1. You select the Match to Multiple Documents check box. The system displays the list of outstanding invoices for matching.
2. You select the Matched check box in the row of an invoice to be matched to the selected bank transaction. The table is refreshed with the invoices of the selected customer and its child companies.
3. You select an entry type in the Charge Type box and fill in the Charge Amount box. The amount entered in this box updates the values in the Matched Amount and Unmatched Amount boxes.
4. When the Matched Amount becomes equal to the Transaction Amount, you start the processing of the transaction.

When the matched transaction is processed, the system creates a payment and applies it to the matched documents. Based on the charge type and charge amount that you have specified, on the Cash Transactions (CA304000) form, the system creates a cash transaction with the following settings:

• Tran. Date: The date of the original bank transaction.
• Entry Type: The entry type selected as the charge type.
• Document Ref.: The external reference number of the original bank transaction.
• Price: The price, which is calculated as follows:
  • If the Net/Gross Entry Mode feature is enabled, the price is calculated as if the Gross tax calculation mode was set up.
  • If the Net/Gross Entry Mode feature is disabled, the price is calculated as the charge amount minus the amount of exclusive charge taxes.
• Amount: The amount, which is calculated as follows:
  • If the Net/Gross Entry Mode feature is enabled, the amount is calculated as if the Gross tax calculation mode was set up.
  • If the Net/Gross Entry Mode feature is disabled, the amount is calculated as the charge amount minus the amount of exclusive charge taxes.
• Tax Zone: The tax zone of the entry type and cash account.
• Tax Category: The default tax category of the tax zone.

When the cash transaction is created, taxes are automatically recalculated, and the transaction is automatically released.

After the matching is completed, if you want to see the details and the amounts of the matched receipts and disbursements, you view them in the table on the Bank Transactions History (CA402000) form.

Matching of Disbursements

In the Disbursement Matching section of the Bank Statements tab on the Cash Management Preferences (CA101000) form, you specify the settings for matching of AP documents to bank transactions.

If you want to allow matching of disbursement transactions to AR credit memos, you select the Allow Matching to Credit Memo check box. If this check box is selected, on the Match to Payments tab of the Process Bank Transactions (CA306000) form, the system will select credit memos and bills as possible matches for disbursement transactions. The same types of documents will be selected during the auto-matching process. When the processing is completed, for each disbursement transaction matched to a credit memo, the system will create an AR document with the Refund type.

If the check box is cleared (the default value), disbursement bank transactions are allowed to be matched to AP bills only.

Matching of Receipts

In the Receipt Matching section of the Bank Statements tab on the Cash Management Preferences (CA101000) form, you specify the settings for matching of AR documents to bank transactions.

If you want to allow matching of receipt transactions to AP debit adjustments, you select the Allow Matching to Debit Adjustment check box. If this check box is selected, on the Match to Invoices tab of the Process Bank Transactions (CA306000) form, the system will select debit adjustments and invoices as possible matches for receipt transactions. The same types of documents will be selected during the auto-matching process. When the processing is completed, for each receipt transaction matched to a debit adjustment, the system will create an AP document with the Refund type and copy the Ext. Ref. Nbr. setting form the Match to Invoices tab to the document's Payment Ref..

If the check box is cleared (the default value), receipt bank transactions are allowed to be matched to AR invoices only.

Matching of Documents with a Cash Discount

On the Process Bank Transactions (CA306000) form, matching of documents with cash discounts is supported. A bank transaction is matched to an invoice with a cash discount based on the following rules:

• If the Transaction Date of the bank transaction is earlier than or the same as the Cash Discount Date of the invoice, the amount of the bank transaction equals the invoice amount minus the cash discount amount
• If the Transaction Date of the bank transaction is later than the Cash Discount Date of the invoice, the amount of the bank transaction is equal to the invoice amount

The auto-matching process follows the same rules.