1. Setting Up and Configuring Account Reconciliation
  2. Setting Up Reconciliation Compliance
  3. Defining Formats
  4. Creating Formats
  5. Creating a New Format for Transaction Matching

Creating a New Format for Transaction Matching

To create a new customized format for Transaction Matching

  1. From Home, click Application, then Configuration, and then Formats.
  2. Click New (+) .
  3. In the Properties tab, enter:
    • Name
    • Description
    • Method

      • Account Analysis With Transaction Matching

      • Balance Comparison With Transaction Matching

      • Transaction Matching Only —Use this method if you are not using period end reconciliations.

    • Select the Display Account ID As option:
      • Concatenated String
      • Individual Segments
    • Select a Match Type from the drop down list. Formats must be linked to a match type. The drop down list contains match types based on the format method:
      • Account Analysis With Transaction Matching formats will list Match Types that have only Source System sources.
      • Balance Comparison With Transaction Matching formats will list Match Types that have both Source System and Sub System sources.
      • Transaction Matching Only formats will list Match Types.
    • Require 0 unexplained difference

      Depending on the chosen method of reconciliation, the reconciliation calculates the Unexplained Difference as:

      • For Account Analysis With Transaction Matching Formats: The Source System Balance, less the Explained Balance, and less the Adjustments.

      • For Balance Comparison With Transaction Matching Formats: The Source System Balance, less the Subsystem Balance, less the Adjustments to Source system, and less the Adjustments to Subsystem.

      Administrators can specify whether the format requires a 0 unexplained difference. If it does, the preparer can't submit the reconciliation for review until adjustments are created for the full difference between the source system balance and the explained/subsystem balance.

      Note:

      The Require 0 unexplained difference is not available for Transaction Matching Only formats. Also, the setting is only applicable when reconciliations are manually submitted by the Preparer. It does not apply for auto-reconcile or auto submit and auto approve rules.

    • Select Prevent File Upload to prevent users from uploading files to reconciliations that are associated with this format. This includes uploading files as attachments or comments to reconciliations, transactions, and action plans. Note that attaching a file as a link is allowed.

      See About Using Formats to Prevent File Uploads.

    • (Optional) Configure Reconciliation Compliance transactions for this format, as described in Configuring Reconciliation Compliance Transactions.

      Note:

      For formats based on Transaction Matching methods, the System Adjustments and Subsystem Adjustments tabs are hidden by default. If your business requires you to configure these attributes, unselect Hide for the Adjustments to Source System (Tab) and Adjustments to Subsystem (Tab) columns in the Balance Summary tab.