After working through all the Suggested matches, start reviewing the outstanding transactions in an attempt to create manual matches.
Features of Working with Unmatched Transactions
Here are some noteworthy features of working with Unmatched Transactions:
- Exporting to .CSV format - If you need to review transactions in more detail, you can export transactions to a .csv format to view in Excel. Also, a Service Administrator can allow other users to delete transactions that may be incorrect.
- Selecting or Deselecting Transactions -
When working with unmatched transactions, you can Use Select All to match on more than 1000 transactions from the list of unmatched transactions or filter the list and then use Select All to match on large numbers of transactions. If you manually select transactions instead of using Select All, you can only select up to 1000 transactions.
- You can see a count of the total transactions on Unmatched Transactions but can only scroll to a maximum of 50,000 rows at a time.
- There is an Age column on Unmatched Transactions that displays the age of the transaction based on the difference between today’s date minus the Accounting Date. This feature is useful if, for example, you wanted to sort unmatched transactions by Age so that a preparer could bring the oldest unmatched aged transactions to the top of the list to work on them. Or, conversely, if you wanted to ignore the Aged transactions.
You can also create manual matches on both New and Supported transactions by using the Filter to access transactions in All status.
Note:You can also use the Transactions dialog available from the Matching card to see transactions loaded from profiles across different statuses. See Searching Transactions in Transaction Matching
Walking through the Manual Matching Process Using a Sample Reconciliation
Let's follow an example through the manual matching process using a sample reconciliation.
To start making manual matches:
- From Home, select Matching.
- Select a reconciliation, then In Actions, select Open.
There are five tabs available: Overview, Suggested Matches, Unmatched Transactions, Matches, and Adjustments.
Let's look at the Overview tab in more detail:
On the Overview tab, you can view a chart showing the current number of unmatched transactions across both data sources, an open adjustments pie chart, and a balancing panel overview.
The Unmatched transactions chart shows:
- Suggested matches means that they were matched by the auto match process since the match rule was configured to not automatically confirm the match. Therefore, user action is required.
- New transactions means that they are not part of any match group.
- Supported transactions means that a user had previously flagged the transaction as legitimately unmatched (for example, to account for timing differences that are appropriate at a specific point in time).
The Open Adjustments chart shows the number of adjustment transactions created through the auto match process or by a user during interactive matching, where the adjustment remains Open. Adjustments are typically used when action must be taken to correct a difference in one of the sources. The pie chart distinguishes between the various adjustment types.
The Balancing Panel shows how the sources reconcile as of the selected date. Any difference in the data source balances will be accounted for as either Unmatched, Unmatched Supported, or Matched-in-Transit.
If the adjustment type name is long, you will see an ellipsis next to the name in the Open Adjustments chart. Hover over the name to see the full name displayed.
- Click the Unmatched Transactions tab.
Under the Status column, icons display the status for each unmatched transaction:
- New - for new unmatched transactions
- All - if you select All for the status, both the New and Supported icons display for that transaction. There is no separate All icon.
You can set the Filter value to display the transaction statuses you want to view.
To learn more about working with transactions on the Unmatched Transactions dialog, see:
- Selecting All Transactions - Selecting All Transactions
Note:To Select All, you must use the Select All checkbox. However, you can also Deselect one or more selected transactions by using CTRL + CLICK.
- Exporting Transactions to a .CSV Format to View in Excel - Exporting Transactions to CSV or Excel Format
- Deleting Transactions - Deleting Transactions
- Searching Transactions, Filtering, and Saving List Views- Searching Transactions, Filtering, and Saving List Views
- Filtering Unmatched Transactions by Grouping - Filtering Unmatched Transactions by Grouping
- Copying and Pasting Text from Unmatched Transactions - You can highlight text of an attribute with your mouse, then copy that text on Unmatched Transactions and paste it wherever it's needed, for example, into filter criteria or in an email. Use the standard Copy and Paste shortcuts (CTRL + C and CTRL + V) while in your browser. Note that Internet Explorer is not supported for this copy and past functionality. Use Chrome or Edge instead.
- At this point, you need to handle three types of transactions on the Unmatched Transactions tab:
For example, you can see that there's a transaction in Accounts Payable that matches the value of a transaction in Accounts Receivable ($195.28). However, the invoice numbers differ due to the inclusion of an unexpected prefix of ORCL If you are confident that these transactions are the same, select them both, and click Match to match them together.
- Supported Transactions- These transactions have a legitimate reason for having no match. You enter an explanation to justify them as correct and valid despite having no match. See Handling Supported Transactions
- Adjustments- If the manual match rules have been configured to allow tolerance, you can also create a match with adjustment (as opposed to an exact match). Select transactions within acceptable tolerance, click Match, and the Selected Transactions dialog shows the selected transactions and allows you to fill in adjustment details. Then click Match with Adjustment to create the match. See Handling Adjustments
Note:All Actions are displayed on the Unmatched Transactions tab. If you select an Action that is not available for the selected transaction, an appropriate error message is displayed.
Note:Reviewers and Viewers can also view the Unmatched Transactions tab in "read only" mode which is especially helpful to view the deetails of transactions that are marked as Supported and see the comments and attachments by the Preparer without making changes.
- Exact Matches-
- Repeat this process until you cannot make any more manual matches.
After you are done with handling all the manual matches, you can move on to creating the reconciliation balancing report.