8.4.2 Edit Reconciliation Rule

This topic provides systematic instructions to edit a reconciliation / allocation rule.

User must have valid corporate login credentials.

To edit a reconciliation rule:

1. From the Dashboard, click the Toggle Menu, then click Receivables/Payables, Reconciliation, and View/Edit Reconciliation/Allocation Rule.
   The View Reconciliation/ Allocation Rules screen appears.

   Figure 8-37 View Reconciliation/ Allocation Rules

   
   

   
   Description of "Figure 8-37 View Reconciliation/ Allocation Rules"

   
   
2. Click the Rule Id link of the rule to be viewed/edited. The View Reconciliation Rule (details) screen appears. Or, click Cancel to cancel the transaction.

   Figure 8-38 View Reconciliation Rule (details)

   
   

   
   Description of "Figure 8-38 View Reconciliation Rule (details)"

   
   
3. Click the Edit link to edit the reconciliation rule. The Edit Reconciliation Rule screen appears. Or, click Back to go to the previous screen.

   Figure 8-39 Edit Reconciliation Rule – Generic Rule

   
   

   
   Description of "Figure 8-39 Edit Reconciliation Rule – Generic Rule"

   
   

   Figure 8-40 Edit Reconciliation Rule – Exact Rule

   
   

   
   Description of "Figure 8-40 Edit Reconciliation Rule – Exact Rule "

   
   

   Table 8-17 Edit Reconciliation Rule - Field Description

   Field Name	Description
   Party Name	Displays the name of the logged-in corporate party.
   Rule Details (train stop)	This section displays Rule details related fields.
   Rule Id	Displays the unique ID assigned that is automatically assigned to the rule during creation. This field is not editable.
   Reconciliation Type	Displays whether the reconciliation is for invoices and payments, or expected cash-flows and payments. This field is not editable.
   Rule Type	Displays whether the rule is a generic or an exact one. This field is not editable.
   Rule Name	Indicates the name of the rule. This field is editable.
   Reconciliation Method	Indicates how the rule is applied to the invoice/cash-flow records for reconciliation. This field is displayed only for Generic rule type. It is editable. The options are: FIFO – Oldest invoice/cash-flow to be reconciled first LIFO – Latest invoice/cash-flow to be reconciled first HAFO – Invoice/Cash-flow with highest amount to be reconciled first LAFO – Invoice/Cash-flow with lowest amount to be reconciled first
   Attribute	Indicates the attribute used for applying the reconciliation method. This field is displayed only for Generic rule type. It is editable. For Invoice and Payments reconciliation: For FIFO and LIFO, the options are: Invoice Date; Invoice Due Date. For HAFO and LAFO, the options are: Invoice Amount; Outstanding Invoice Amount. For Cash Flow and Payments reconciliation: For FIFO and LIFO, the options are: Expected Date; Revised Expected Date. For HAFO and LAFO, the option is: Amount.
   Rule Interpretation	Displays the rule that is set, based on the options you select in the Reconciliation Method and Attribute fields. This field is displayed only for Generic rule type.
   Reconciliation Rule	This section appears only for Exact rule type. It displays the conditions that have been set during creation. The entire section is editable.
   Add Condition	Indicates an option to add a condition for Exact reconciliation.
   Add Group	Indicates an option to add a group of conditions that are clubbed together by logical operators ‘AND’ or ‘OR’.
   AND / OR	Indicates the logical operator to be used for clubbing the conditions for creating the Exact reconciliation rule.
   Single-Sided Condition	You can create single-sided conditions by selecting a specific entity (Invoice/ Cash-Flow or Payment) and then comparing an attribute of this entity with a specific value. The following fields appear for a single sided condition.
   Select Entity	Select the required entity for building the condition.
   Select Attribute	Select the attribute of the entity to be compared.
   Select Pattern	Select the relational operator or pattern to be used for comparison.
   Value	Specify the value that the attribute is to be compared with. The options available are: = < > != Starts with Ends with
   Match Case	Select the toggle to match the value with case sensitive.
   Double-Sided Condition	You can create double-sided conditions by comparing an attribute of one entity with a relevant attribute of the other entity. For example, for the Invoice and Payment double-sided condition, the Net Invoice Amount can be compared with the Payment Amount. The following fields appear for a double-sided condition.
   Entities	Select the entities combination for creating the double-sided condition.
   Select Pattern	Select the pattern to be used for the attribute (of the first entity) to be compared. The options available are: Exact Attribute Text Between Two Positions – On selecting this option, two fields appear where you can enter the position (numerical values). The attribute text between these positions is used for comparison. Likewise Match - On selecting this option, the relational operator defaults to Contains In and Left Hand Side pattern will be defaulted to Likewise Match.
   Select Attribute	Select the attribute of the first entity to be compared.
   Relational Operator	Select the relational operator to be used for comparison.
   Select Pattern	Select the pattern to be used for the attribute (of the second entity) to be compared. The options available are: Exact Attribute Text Between Two Positions – On selecting this option, two fields appear where you can enter the position (numerical values). The attribute text between these positions is used for comparison. Likewise Match - On selecting this option, the relational operator defaults to Contains In and Left Hand Side pattern will be defaulted to Likewise Match
   Select Attribute	Select the attribute of the second entity to be compared.
   Match Case	Select the toggle to match the value with case sensitive.
   Save all and Preview	Click this link to save and preview all added conditions.

4. Modify the required details in the Rule Details step.
5. Click Continue to go to the Set Allocation step. Or, do one of the following:
   • Click Cancel to cancel the transaction.
   • Click Skip Allocation to skip the Set Allocation train stop and move to the Prioritize Rule train stop.

Figure 8-41 Edit Reconciliation Rule – Set Allocation step – Attribute Based

Description of "Figure 8-41 Edit Reconciliation Rule – Set Allocation step – Attribute Based"

Figure 8-42 Edit Reconciliation Rule – Set Allocation step – Account Based

Description of "Figure 8-42 Edit Reconciliation Rule – Set Allocation step – Account Based"

Table 8-18 Edit Reconciliation 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 the allocation should be virtual accounts-based or attributes-based. If you select the Account Based option, then you can directly set the virtual accounts for allocation. If you select the Attribute Based option, then you can set attributes for allocation. The virtual accounts that are mapped to these attributes will be used for allocation.
Narration	Specify the narration text.
Account Based Allocation	This section appears if you have selected 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 attributes. The amount corresponding to the payment percentage set, is allocated to the virtual accounts mapped to these attributes.
Serial Number	Displays the serial number of the attribute.
Allocation Entity	Select the entity whose attribute should be considered for setting an allocation percentage.
Allocation Attributes	Select the attribute for which the allocation percentage should be set.
Percentage	Enter the percentage of payment to be allocated to the attribute.
Action	Click to add further attributes. Or click to delete an added attribute.

6. Modify the allocation details if required.
7. 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 to the previous screen.
   • Click Skip to skip modifying the allocation and to move to the Prioritize Rule train stop.

   Figure 8-43 Edit Reconciliation Rule – Prioritize Rule step

   
   

   
   Description of "Figure 8-43 Edit Reconciliation Rule – Prioritize Rule step"

   
   

   Table 8-19 Edit Reconciliation 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.
   Reconciliation Rules	This section displays the reconciliation rules.
   Search	Indicates an option to search for a specific reconciliation rule.
   Rule Id	Displays the unique rule ID that has been assigned to the rule. Except for the rule being edited, all other IDs are hyperlinks, which when clicked display the rule details in an overlay window. For more information, refer the Recon Rule overlay window section below. The keyword “Current” is displayed beside the rule being edited. The keyword “Modified” is displayed beside any rule whose priority has been changed.
   Rule Type	Displays whether the rule is a generic or an exact one.
   Rule Name	Displays the name assigned to the rule.
   Priority	Indicates the priority assigned to the rule. Note: For the rule being edited, you can modify the priority. For other existing rules, click to edit and modify the priority, if required.

8. Modify the priority of the rules, if required.
9. 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 to the previous screen.

   Figure 8-44 Edit Reconciliation Rule – Review Screen

   
   

   
   Description of "Figure 8-44 Edit Reconciliation Rule – Review Screen"

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

    Figure 8-45 Edit Reconciliation Rule – Confirmation Screen

    
    

    
    Description of "Figure 8-45 Edit Reconciliation Rule – Confirmation Screen"

    
    
11. In the confirmation screen, click the View Reconciliation Rules link to view the existing rules. Or, click the Create Reconciliation Rule link to create a new rule.

• Recon Rule overlay window
  This topic provides systematic instructions to view the recon rule details. This window appears when you click the Rule Id link in the Prioritize Rule step when creating a reconciliation rule.