Free License - Transaction Matching for Bank Account Reconciliation

Bank account reconciliations require manual GL data entry before AI-powered matching occurs. The system matches GL transactions against uploaded bank statement data.

To perform transaction matching for a bank account reconciliation, follow these steps:

• Step 1: Open Bank Account Reconciliation

• Step 2: Open Unmatched Items [v26.1] 

• Step 3: Set Balance

• Step 4: Add GL Lines

• Step 5: Upload Bank Statements

• Step 6: Review Matched Transactions

• Step 7: Manage Unmatched Transactions

• Step 8: Submit for Review

Open a Bank Account Reconciliation

To open a bank account reconciliation:

1. Navigate to the Reconciliations module.

2. Locate the bank account. The Support Source section displays the bank account number.

3. Click the account row to open the Reconciliation Details page.

   

Open Unmatched Items [v26.1] 

After opening the Reconciliation Details page, the GL side and the Support side each display a + (add) button and an Upload button for loading open unmatched items. Customers onboarding mid-year must load historical unmatched items from prior periods before proceeding with GL data entry and transaction matching. This ensures that the reconciliation equation balances from day one.

Note: This step applies only to the first active reconciliation period. For subsequent periods, open unmatched items carry forward automatically. Once open unmatched items are loaded, proceed to next step.

For step-by-step instructions on adding open unmatched items via bulk upload or manual entry, see Free License - Open Unmatched Items for Bank Account Reconciliations.

Set Balance

Manually set the GL Balance and Support Balance for the reconciliation.

To set a balance:

1. Click Set Balance in the Transaction Matching section.

A dropdown displays with the following options:

2. Select the desired option.

3. Enter the balance amount.

4. Click Save.

GL Balance Rules

Add GL Lines

For Free License account, GL Lines can be added in two ways: manually line by line or bulk upload using the predefined template.

Option A: Add GL Lines Manually

To add a single GL Line:

1. Click Add GL Line.

2. Enter the transaction details: Date, Amount, Description, and Trading Partner (optional).

   

3. Click Add Line.

4. Repeat for additional transactions.

Option B: Bulk Import GL Lines from Template

To import multiple GL Lines:

1. Click Upload in the header.

2. Select Upload GL Lines.

3. Click Download Template to get the import template.

   

4. Enter transaction data in the template. The template includes columns for Date, Amount, Description, and Trading Partner.

5. Save the completed template.

6. Click Upload GL Lines from the header again and select the saved file.

7. Click Upload to import the file.

8. Review the import results.

After adding unmatched line items, you can edit, delete, or add comments to each item.

To edit an unmatched GL line item:

1. Locate the GL Line in the GL Account panel.

2. Click the Edit icon on the line.

3. Modify the transaction details as needed.

4. Click Save.

   

To add a comment:

1. Locate the item in the Unmatched Lines table.

2. Click the Comment icon.

3. Enter the comment text.

4. Click Save.

   

To delete an unmatched GL line item:

1. Locate the GL Line in the GL Account panel.

2. Click the Delete icon on the line.

3. Confirm the deletion.

   

GL Lines Rules

Upload Bank Statements

For Free License version, the matching starts only after GL Balance or GL Lines, and bank statement data are present.

To upload bank statements:

1. Click Upload.

2. Select Upload Reconciliation Files.

3. Click Browse Files or drag and drop files into the upload area.

4. Select the bank statement file (Excel, CSV, or PDF format).

5. Click Upload.

The system validates files for mandatory columns and required fields. Valid files trigger data import, matching, and status change to In Progress. Invalid files display an error message.

[v26.1] 

Note: File uploads are limited to a maximum of 20 files per upload batch. If more than 20 files are selected, the system displays an error message. Upload additional files in subsequent batches. This limit applies to all file upload areas including bank statement uploads, GL line uploads, and checklist attachments.

Upload Options

Note: The system automatically retriggers matching when GL Line data changes. This includes adding a new line, editing an existing line, or deleting a line.

Review Matched Transactions

After GL Lines and bank statements are uploaded, the AI engine performs automatic matching.

Review Matched Transactions [v26.1] 

To review matched transactions:

1. Go to the Matched results tab.

2. Use the following controls to search, filter, and manage matched transactions:

   Control	Function
   Search	Searches matched transactions by description, amount, or trading partner.
   Clear Search & Filters	Removes all applied search and filter criteria and returns to the default view.
   Bulk Unmatch [v26.1]	Unmatches multiple transactions at once. Click the Bulk Unmatch button dropdown and select one of the following options: Unmatch All—Unmatches all matched transactions in the current reconciliation. Unmatch AI—Unmatches only the automatically matched (AI-matched) transactions. Unmatch Manual—Unmatches only the manually matched transactions.

3. Review each matched pair for accuracy—Match ID, dates, amounts, and descriptions.

   Field	Description
   Match ID	Unique identifier with color coding.
   Dates	Compare GL date vs Bank date.
   Amounts	Verify GL amount equals Bank amount.
   Descriptions	Check GL description relates to Bank description.
   Trading Partners	Compare GL vs Bank trading partners.

4. Click Unmatch to separate incorrect pairs.

Note: The system automatically retriggers matching when GL Line data changes. This includes adding a new line, editing an existing line, or deleting a line.

Note: You can only unmatch transactions when the reconciliation is in the Preparation stage (In Progress status). Once submitted for review, transactions are locked.

Manage Unmatched Transactions

The Unmatched Items tab displays transactions that require manual matching or documentation.

To manage unmatched transactions:

1. Go to the Unmatched Items tab.

2. Review unmatched GL transactions (left side) and bank transactions (right side).

3. Select transactions from both sides and click Match to match manually.

4. Add comments to document variances for transactions that cannot match.

Each GL Line in the Unmatched tab displays action icons for editing, commenting, and deleting.

Note: The system automatically retriggers matching when GL Line data changes.

Submit for Review

To submit the reconciliation:

1. Verify that all possible matches are complete and variances are captured.

2. Click Submit for Review.

3. Add comments (optional).

4. Click Confirm.

The reconciliation moves to Review stage and the status indicator updates.

Review and Approval Workflow

After submission, the reconciliation follows the standard review and approval workflow.

Review Stage

The assigned reviewer examines the reconciliation and takes one of the following actions:

To approve for final sign-off:

1. Review matched and unmatched transactions.

2. Verify variances are properly captured.

3. Click Submit for Approval.

4. Add comments (optional).

5. Click Submit to approve the transaction.

To reject and return for rework:

1. Click Reject.

2. Enter comments explaining what needs correction (required).

3. Click Reject to reject the transaction.

The reconciliation returns to the Preparation stage (In Progress status).

Approval Stage

The assigned approver provides final sign-off or rejects the reconciliation:

To approve:

1. Review the complete reconciliation.

2. Click Approve.

3. Add comments (optional).

4. Click Approve to approve the transaction.

The reconciliation moves to Approved status.

To reject:

1. Click Reject.

2. Enter comments explaining what needs correction (required).

3. Click Reject to reject the transaction.

The reconciliation returns to the Preparation stage.

Revert Approval

Note: Only the approver who approved the reconciliation can revert the approval.

To revert approval:

1. Open the approved reconciliation.

2. Click Revert Approval.

3. Enter comments explaining why the approval is being reverted (required).

4. Click Revert Approval to revert the transaction.

   

The reconciliation returns to the In Progress status. The preparer can then make necessary changes and resubmit for review.