Auto-Match Transactions using Nolan’s Advanced Bank Reconciliation (ABR) for Microsoft Dynamics GP December 16, 2020 by Arelis Fontanez, Technical Consultant
Auto-Match Transactions using
Nolan’s Advanced Bank Reconciliation (ABR)
for Microsoft Dynamics GP
This blog will walk you through how Nolan’s Advanced Bank Reconciliation (ABR) can automatically match imported bank transactions against extracted GL transactions in Dynamics GP.
The reconciliation window in ABR provides a side-by-side view of your imported bank transactions (from a CSV file, a BAI file or other international bank formats) and your posted outstanding GL transactions in Dynamics GP. To initiate the process, ABR will auto-match transactions based on exact amounts matches between the GL and the Bank. But we can make the process smarter by creating configurable Auto-Match rules by transaction type. Checks, deposits, and bank fees are example of different transaction types that can have their unique rules. For example, we can create a rule for checks that will only auto-match them together if both the amount and the check number agree. These Auto-Match rules can be based on dates, document/check number, reference, and/or source document.
To automate the process even more, ABR can auto-match transactions that are not the exact amount if tolerance rules are set up. When a tolerance amount or percentage is defined, the Auto-Match process will identify and match transactions that are not exact $ amount matches but meet the tolerance thresholds.
Once we Auto-Match process is completed, you can change the Display (filter) in the Reconciliation window to either view all the transactions or the ones that matched or simply concentrate on the ones that did not match. The transactions that were auto-matched will have a sequential (and unique!) Match ID to identify them as cleared transactions.
ABR’s Auto-Match process saves you time from manual matching, so you can concentrate on more value-added tasks. Clients across around the world, including the US, Canada, and Europe, use Nolan’s ABR to reconcile high transaction volumes, multiple bank accounts, and multiple currencies.
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