1. Reconciling Accounts with Account Reconciliation
  2. Reconciling Accounts in Transaction Matching
  3. Creating Manual Matches
  4. Splitting Unmatched Transactions

Splitting Unmatched Transactions

Splitting transactions allows you to manage timing differences for 1 to Many, Many to 1, or Many to Many matches by allowing you to match part of a transaction, leaving aside only the split remaining amount unmatched. This helps keep the number of unmatched transactions as low as possible at the end of each day and allows a reviewer to look at a reconciliation with fewer unmatched transactions. An administrator must enable this feature in order for users to split transactions.

When transactions match 1 to Many, Many to 1, or Many to Many, it makes the reconciliations difficult as more transactions are needed to make a match set balance. The timing differences with 1 to Many, Many to 1, or Many to Many matches are difficult to deal with as there are many transactions that remain unmatched waiting for the remaining transaction(s) to be loaded that can balance the match set.

Here is an example of a standard Source (GL) to Sub (Bank), which is a 1 GL to 5 Bank (1 to Many) match:

  • Day 1: $10,000.00 GL
  • Day 2: $2,000.00 Bank
  • Day 2: $2,000.00 Bank
  • Day 2: $2,000.00 Bank
  • Day 2: $2,000.00 Bank
  • Day 2: $1,990.00 Bank
  • Day 15: $10.00 Bank

On Day 2, the user notices that the total bank amount is $9,990.00, but it should be $10,000.00, which means the bank made an error of $10.00. The bank will need at least two weeks to fix the $10.00 amount and therefore, the user will have to wait with six unmatched transactions until the fix. Since this is a long time to have an unmatched deposit of $10,000.00, the user can split the $10,000.00 GL into two transactions. After the split, the user can match $9,990.00 GL to $9,990.00 total bank and leave the $10.00 GL unmatched until Day 15 when the bank finally sends the $10.00 Bank. This split enables the user to keep the reconciliation clean, especially when there are high counts of such matches required.

The match would be:

  • Match 1 (probably on Day 3)
    • Day 1: $9,990.00 GL (1 GL transaction is split into two transactions)
    • Day 2: $2,000.00 Bank
    • Day 2: $2,000.00 Bank
    • Day 2: $2,000.00 Bank
    • Day 2: $2,000.00 Bank
    • Day 2: $1,990.00 Bank
  • Match 2 (probably on Day 16)
    • Day 1: $10.00 GL (1 GL transaction is split into two transactions)
    • Day 15: $10.00 Bank

    After the $10.00 fix by the Bank, running an Auto Match or Manual Match will match the transaction.

Enabling Split Transactions

To enable the split in the Unmatched Transactions screen, the admin must enable Allow Transactions to be split in the Data Sources tab. To enable the Split option:

  1. From Applications, click Match Types , and select the desired match type (for example, Clearing).

  2. From Edit Match Type, select the Data Sources tab.

  3. In the Data Sources screen, click the Allow Transactions to be split checkbox.

  4. Click Save.

    Note:

    • If a key attribute is already defined, you cannot enable the transaction split. The system displays this message on save, The data source has one more key attributes defined. Transaction split is not allowed.
    • After you enable the transaction split, you cannot add a key attribute. The system displays this message, Key attribute cannot be added when transaction split is enabled.

Splitting Transactions

To split transactions:

  1. From Matching, select the match type for which you created the split.

  2. Select the Unmatched transactions tab.

    The Split Transaction icon displays.


    Split Transactions Icon

    Note:

    • Only one transaction can be split at a time.
    • The transaction can be split only into two transactions at a time.
    • Only the balancing amount can be split. If other attribute amounts exist, those will remain the same.

  3. Select the transaction you want to split (for example, Transaction ID, 22864), then click Split.

  4. In the Split Amount field, enter the split amount (for example, $2.50).

    The Remaining Amount automatically populates on entering the split amount.


    Split Amount Field

    Note:

    You can also enter a negative amount in the Split Amount field.

  5. Click Save.

    A warning message displays, Amount for this transaction will be split. This action cannot be undone. Do you want to continue?. The details of the original amount, split amount, and remaining amount are also shown.

  6. Click Yes.

    A confirmation message displays the transaction split is successful.

  7. Click Close.

    The new split transaction (Transaction ID, 23781) displays along with the original transaction (Transaction ID, 22864). The split transaction copies all details from the original transaction except the balancing amount and the transaction ID.


    Split Transaction

Audit Trail

Here is an audit trail example of a transaction (Transaction ID, 1047) with a balancing attribute amount $98.00 split in to amounts $68.00 and $30.00. The Transaction id displays Split and the New Value displays the new Transaction ID, 4028.


Original Transaction Audit Trail

Here is the audit trail example of the newly created split transaction (Transaction ID, 4028). The Transaction id displays Created and the Old Value displays the parent ID, 1047.


Newly Created Split Transaction Audit Trail