Manually match a bank statement

Manually match a bank statement

At times there will be transactions that appear in the bank statement that do not meeting the auto matching rules and will need to be manually allocated to an account e.g. a customer deposits money into the bank account and does not put the finance agreement number in the reference but their surname. Users will need to manually match transactions that cannot be auto matched and there are a number of options available to manually match transactions such as: 
- Match using account search
- Match using account number
- Match to suspense account
- Match using direct debit dishonour reference number 

The following are examples of available options to manually match transactions:
“Account matching” – Account
This is when the user can search for and select accounts that belong to the same finance company as the bank statement selected.

“Account matching” – “Account by account number”
This is when the user can enter an account number. Only accounts number that belongs to the same finance company as the bank statement can be entered.

“Account matching” – “DD dishonour reference number”
This is when the user can enter a DD transaction reference number that the dishonour must be matched to. This happens when the bank statement does not contain the correct reference number for a dishonour. The user can only match to an account that belongs to the same finance company as the bank statement.
 
“Account matching” – “Suspense” 
This is when the user can allocate the transaction to a bank suspense account. Only suspense accounts that exists in the same warehouse entity as the bank statement can be selected.

Control Matching – ALL
This is when the user can allocate the transaction to a control account. Only control accounts that belong to the same warehouse entity as the bank statement can be selected.

1. Log into Clearmatch Fusion with the relevant credentials and select the asset class that the bank account resides in:    

 

2. From the main menu select  Banking  >  Bank Statements :  



NOTE : in order to successfully auto match a bank statement, this needs to be imported into Clearmatch first. To find out how to do this, please refer to this  article.

3. The bank statements screen will appear blank and show no available options. Simply select the warehousing entity that the bank account belongs to from the  Warehousing Entity drop down list:



4. Click on the Bank Uploads option under List (on the Bank Statements screen):  

 

5. The bank statements will be ordered by the date and time that it was uploaded so the most recent will show at the very top. Find the bank statement in question and select the link via the Created On or Bank Statement Date headings:  



6. On the association tab at the bottom of the page, ensure that the Bank Statements option is selected (from the drop down list or quick link if enabled), and select the link to the Statement Date :



7. If there are any bank statement transactions that have not been matched, they will appear in the "Unallocated Items" tab at the bottom of the page:



8. To manually match a specific item, select it from the list:



9. From the Account Matching menu that is accessible from the Actions Panel , select one of the options to manually match the bank statement. Investigation will need to be done to identify which account the transaction belongs to. This will more than likely involve contacting the bank to find out where the funds have come from.




10. All items that have been matched will be moved to the "Allocated But Not Posted" tab to review.



It is important that the items are reviewed before posting as once posted they will appear against the accounts.

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