Exporting Adjustments or Transactions as Journal Entries

In Transaction Matching, you can export adjustments or transactions from data sources as dual sided journal entries that can then be imported into your ERP system. The exported journal entries are provided in a .csv file.

Example of a Single Adjustment and Journal Entry Created for Export

Let's look at this example of a single adjustment's details and what the dual sided journal entry looks like that gets created from that information.

Table -1 Adjustment Details

Account ID Trans. Date Amount CCY Short Desc Adj Type
100-1150 6/15/2018 10.00 USD Cash at bank is short Cash Over/Short

Table -2 Journal Posting Created From Adjustment

Company Code GL Account Profit Center Date Amount CCY Text
100 1150   6/15/2018 -10 USD Cash at bank is short
100 567345 1100 6/15/2018 10 USD Cash at bank is short

The first row in this table represents the side of the journal that hits the Reconciliation Account 1150 in the amount of 10.00 since the balance is too high currently.

The second row in this table represents the side of the journal that hits the Offset Account 567345. It's an expense account since the "missing" cash is being written off.

Note:

This also works for a single transaction based on a data source and two rows are also created as a journal entry. For example, for a bank fee.

Process Flow

During normal operation using Account Reconciliation Cloud, users create adjustments and load transactions into Transaction Matching. If you want to export adjustments or transactions as journal entries, you use the Match Types feature which uses a new concept of global attributes for Adjustment and Support Types.

The process flow within Match Types in Transaction Matching is: