8.3 Create Allocation Rule

This topic provides systematic instructions to create rules for automatic allocation of payments to specific virtual accounts.

The allocation can be performed manually as well. For more information, refer the Manual Allocation section in this document.

User must have valid corporate login credentials.

To create an allocation rule:

1. From the Dashboard, click the Toggle Menu, then click Receivables/Payables, Reconciliation, and Create Allocation Rule.
   The Create Allocation Rule screen appears.
2. In the Rule Details step of the Create Allocation Rule screen, specify the required details.

   Figure 8-22 Create Allocation Rule - Rule Details

   
   

   
   Description of "Figure 8-22 Create Allocation Rule - Rule Details"

   
   

   Table 8-9 Create Allocation Rule - Rule Details Field Description

   Field Name	Description
   Party Name	Select the party name from the drop-down list in which the reconciliation rule must be created. By default, the primary party/gcif of the logged-in user is selected. Note: Only accessible parties are displayed to the user.
   Rule Details	This section displays Rule details related fields.
   Rule Name	Specify the name to be assigned to the rule.
   Reconciliation Rule	Specify the Reconciliation Rule details based on description of following table:
   Add Condition	Indicates an option to add a condition for allocation.
   Add Group	Indicates an option to add a group of conditions that are clubbed together by logical operator ‘AND’ or ‘OR’.
   AND / OR	Indicates the logical operator to be used for clubbing the conditions for creating the allocation rule.
   Select Attribute	Select the attribute of the payment to be compared.
   Match the Payment by	Select the relational operator or pattern to be used for matching the payment.
   Value	Specify the value that the attribute is to be compared with. The options available are: = < > != Starts with Ends with Contains
   Save all and Preview	Click this link to save and preview all added conditions.

3. In the Rule Name field, enter the name to be assigned to the rule.
4. In the Reconciliation Rule section, build the condition(s) as per requirement:
   1. Select the attribute to be used for comparing.
   2. Select the appropriate relational operator or pattern for comparing, from the Match the payment by list.
   3. Specify the value to compare the attribute value with.
   4. Once a condition is defined, click to save it.
   5. You can define similar individual conditions or a group of conditions by clicking Add Condition or Add Group, and binding them together using the ‘AND’ or ‘OR’ logical operator.
   6. Once all conditions are defined, click Save all and Preview to save and preview all added conditions.

   Note:

   Once a condition is added and saved, click to edit it, or click to delete it.
5. Click Continue to go to the Set Allocation step. Or, do one of the following:
   • Click Cancel to cancel the transaction.
   • Click Back to reset the fields and start with the Rule Details step again.

   Figure 8-23 Set Allocation – Account Based

   
   

   
   Description of "Figure 8-23 Set Allocation – Account Based"

   
   

   Figure 8-24 Set Allocation – Attribute Based

   
   

   
   Description of "Figure 8-24 Set Allocation – Attribute Based"

   
   

   Table 8-10 Create Allocation Rule - Set Allocation Field Description

   Field Name	Description
   Party Name	Displays the name of the logged-in corporate party.
   Set Allocation	In this step, you can set the percentages to be allocated to specific virtual accounts. You must ensure that the sum of the allocated percentages should be 100.
   Allocation Basis	Select whether allocation should be virtual accounts-based or attributes-based.
   Narration	Specify the narration text.
   Account Based Allocation	This section appears if you select the Account Based option in the Allocation Basis field.
   Serial Number	Displays the serial number of the allocation account.
   Allocation Account	Select a virtual account to assign an allocation percentage.
   Percentage	Specify the percentage of payment to be allocated to the virtual account.
   Action	Click to add further virtual accounts. Or click to delete an added account.
   Attribute Based Allocation	This section appears if you select the Attribute Based option in the Allocation Basis field. This option can be used to allocate specific percentages of the payment towards specific payment attributes (such as credit account number, remitter account number, payment party ID, and so on), which are mapped to specific virtual accounts.
   Serial Number	Displays the serial number of the attribute.
   Allocation Entity	Displays ‘Payment’ by default.
   Allocation Attributes	Select the attribute for which the allocation percentage should be set.
   Percentage	Select the percentage of payment to be allocated to the attribute.
   Action	Click to add further attributes. Or click to delete an added attribute.

6. Once the allocation details are set, click Continue to go to the Prioritize Rule step. Or, do one of the following:
   • Click Cancel to cancel the transaction.
   • Click Back to go back to the previous screen.

   Figure 8-25 Create Allocation Rule - Prioritize Rule

   
   

   
   Description of "Figure 8-25 Create Allocation Rule - Prioritize Rule"

   
   

   Table 8-11 Create allocation Rule - Prioritize Rule Field Description

   Field Name	Description
   Party Name	Displays the name and ID of the logged-in corporate party.
   Prioritize Rule	This section displays Prioritize Rule details related fields. A list of existing rules for the same set of conditions is displayed. You can set the priority on the rule being created. You can also modify the priority on an existing rule.
   Search	Indicates an option to search for a specific rule.
   Rule Id	Displays the unique rule ID. For the rule being created, this field appears blank. An ID is assigned once the rule is created. The IDs of the other rules in this column are hyperlinks, which when clicked display the rule details in an overlay window. For more information, refer the Allocation Rule overlay window section below. The keyword “Current” is displayed beside the rule being created. The keyword “Modified” is displayed beside any rule whose priority has been changed.
   Rule Type	Displays ‘Exact’ by default.
   Rule Name	Displays the name assigned to the rule.
   Priority	Indicates the priority assigned to the rule. Note: For the rule being created, the priority assigned by default is, one incremental to the highest priority assigned to the existing rules (highest priority + 1). You can change this priority, if required. For an existing rule, click to edit and modify the priority, if required.

7. In the Prioritize Rule step, specify the priority to be set against the rule being created, under the Priority column. You can also modify the priority on an existing rule, if required.
8. Click Submit to submit the transaction. The Review screen appears. Or, do one of the following:
   • Click Cancel to cancel the transaction.
   • Click Back to go back to the previous screen.

   Figure 8-26 Create Allocation Rule - Review Screen

   
   

   
   Description of "Figure 8-26 Create Allocation Rule - Review Screen"

   
   
9. In the Review screen, verify the details and click Confirm. A confirmation message appears, with the reference number of the transaction and its status. Or, do one of the following:
   • Click Cancel to cancel the transaction.
   • Click Back to go back to the previous screen.

   Figure 8-27 Create Allocation Rule – Confirmation

   
   

   
   Description of "Figure 8-27 Create Allocation Rule – Confirmation"

   
   
10. In the Confirmation screen, click the View Reconciliation Rules link to view the existing reconciliation rules. Or, click the Create Allocation Rule link to create another allocation rule.

The Allocation Rule is created and sent for authorization.

• Allocation Rule overlay window
  This window appears when you click the Rule Id link in the Prioritize Rule step when creating an allocation rule.