When new bank statement lines are entered or imported in the Bank Acc. Reconciliation window, you must make sure that every bank statement line is applied to one or more related bank ledger entries. The activity of finding and applying related bank entries in the window is referred to as matching.
The lines in the Bank Acc. Reconciliation window are divided into two panes. The left pane shows new bank statement entries, the right pane shows the ledger entries in the bank account. You can choose to perform matching automatically by using the Match Automatically function. Alternatively, you can manually select lines in both panes to link each bank statement line to one or more related bank account ledger entries, and then use the Match Manually function.
When the value in the Total Balance field under the left pane equals the value in the Balance To Reconcile field under the right pane, you can post to reconcile the applied bank account ledger entries. Any non-applied bank account ledger entries will remain in the window, this indicates that payments processed for the bank account are not reflected in the latest bank statement or that some payments were received on checks. For more information, see How to: Post Bank Reconciliations.
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| If bank statement lines relate to check ledger entries, then you cannot use the matching functions. Instead, you must choose Apply Entries button on the Bank Statement Lines FastTab and then select the relevant check ledger entry to apply the bank statement line to. |
The statement matching function is based on prioritized criteria: First the function tries to match amounts. Then it tries to match text in certain fields on statement lines with text found in certain fields in bank account ledger entries, in prioritized order. Last the function tries to match dates.
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| Text matching is only possible for text longer than four characters. |
The following table shows, in priority order, which five fields on bank statement lines may be matched with fields on bank account ledger entries.
| Priority group | Field on the bank statement line | Priority within group | Field in bank ledger entry | Comment |
|---|---|---|---|---|
1 | Statement Amount | Remaining Amount | Will match if the amounts are identical. | |
2 | Description | 1 | Description | Will match if the description text is identical or almost the same in any of the three fields. |
2 | External Document No. | |||
3 | Document No. | |||
Payer Information | 1 | Description | Will match if the description text is identical or almost the same in any of the three fields. | |
2 | External Document No. | |||
3 | Document No. | |||
Transaction Information | 1 | Description | Will match if the description text is identical or almost the same in any of the three fields. | |
2 | External Document No. | |||
3 | Document No. | |||
3 | Transaction Date | Posting Date | Will match if the dates are identical or within the span of days specified in the Transaction Date Tolerance (Days) field. See step 4 in the following procedure. |
A prerequisite for the following procedures is that the Bank Acc. Reconciliation window header is filled with bank statement information and that the bank statement lines are entered or imported. For more information, see How to: Fill In Bank Reconciliations.
You can view the imported bank statement values in the Bank Statement Line Details by selecting a line in the Bank Statement Lines pane and then choosing the Details button above the pane.
To automatically match bank statement lines with bank account ledger entries
In the Search box, enter Bank Account Reconciliation, and then choose the related link.
Open the relevant bank account reconciliation.
On the Home tab, in the Matching group, choose Match Automatically. The Match Bank Entries window opens.
In the Transaction Date Tolerance (Days) field, specify the span of days before and after the bank account ledger entry posting date within which the function will search for matching transaction dates in the bank statement. If you enter 0 or leave the field blank, then the Match Automatically function will only search for matching transaction dates on the bank account ledger entry posting date.
Choose the OK button to start the Match Automatically function.
All bank statement lines and bank account ledger entries that can be matched change to green font, and the Applied check box in the right pane is selected.
To remove a match, select the bank statement line, and then, on the Home tab, in the Matching group, choose Remove Match.
You can manually match any bank statement lines that were not automatically matched, for example because the related payments have not been posted yet. For more information, see the following procedure.
If all bank statement lines are matched, then proceed to post the Bank Acc. Reconciliation window to reconcile the applied bank account ledger entries. For more information, see How to: Post Bank Reconciliations.
To manually match bank statement entries with bank account ledger entries
In the Search box, enter Bank Account Reconciliation, and then choose the related link.
Open the relevant bank account reconciliation.
In the left pane, select a bank statement line.
In the right pane, select one or more banks account ledger entries that can be matched with the selected bank statement line. To choose multiple lines, press and hold the Ctrl key.
On the Home tab, in the Matching group, choose Match Manually.
The selected bank statement line and the selected bank account ledger entries change to green font, and the Applied check box in the right pane is selected.
Repeat steps 3 through 5 for all bank statement lines that are not matched.
To remove a match, select the bank statement line, and then, on the Home tab, in the Matching group, choose Remove Match.
If all bank statement lines are matched, then proceed to post the Bank Acc. Reconciliation window to reconcile the applied bank account ledger entries. For more information, see How to: Post Bank Reconciliations.
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| If there are any bank statement lines that could not be fully matched with bank account ledger entries, then it may be because the related payments are not yet posted. Use the Transfer to General Journal function to transfer the non-matched amount, shown in the Difference field, to the general journal for posting. For more information, see Trans. Bank Rec. to Gen. Jnl. |
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For more information about how to work with fields and columns, see Work with Data. For more information about how to find specific pages, see Search. |