Support for Multiple Currencies in Transaction Matching

When defining match types in Transaction Matching, Service Administrators can now enable the use of multiple currencies for a data source by selecting Currency for a text attribute in the Data Sources tab. Configuring multiple currencies enables you to associate a currency with each transaction loaded to that data source. Users can load and match transactions in multiple currencies (for example, USD, EUR, INR, JPY, and so on) within the same match type.

While matching transactions, both the currency and the amount must match. The precision when matching amounts is the precision of the currency that is associated with the transaction.

Business Benefit: This feature provides users with an enhanced matching experience and powerful filtering capabilities. Additional benefits include the following:

  • Saves time and effort because users can now use a single reconciliation for multiple currencies in the lowest configured currency bucket.
  • Results in lower operational overhead and fewer workarounds. Avoids splitting source files by currency, creating separate match types per currency, or maintaining parallel reconciliations and allows for a single period-end reconciliation for multiple currencies.
  • Including the currency code in the Transaction tab, drill-through links, transaction exports, and balance reports improves transparency and enables better downstream reporting.

Key resources