Internal matching / Bank reconciliation report

Internal Matching is a Statement, which displays the transactions as follows: it will first display the transactions that close each other out (for example, invoices and the receipt that closes them) and then display the open transactions (for example, accounts that have not yet been repaid). The open transactions are the ones that make up the final balance of the card. Closings are recorded when documents are issued (for example, when a receipt or a credit invoice is issued), and they are also recorded within the Bank Reconciliation and Internal Matching menu items.

Bank Reconciliation is a report listing which transactions in the books correspond to which transactions in the bank and which transactions (both in the books and in the bank) are still not matched (open transactions). This report can also be used to match cards received from vendors or customers.

Both reports work the same way.

Open Transactions Until (Date): This section sets the upper date limit for open transactions. For example, to see open debts until the end of the previous month (and ignore open debts for sales in the current month), limit open transactions to the last day of the previous month. There is no lower date limit, since the balance for collection stems from previous open debts. When issuing a bank reconciliation, we recommend limiting the reconciliation to the last date on the Bank Statement.

Print Open Transactions: Mark for the report to include the list of open transactions (up to the date set above).

Limit Report to transactions closed up until: This section allows you to limit closed transactions by date (in addition to the limit by closing number in the previous section). If closed transactions by are limited by Reference Date, and the match includes transactions from both before and after the date limit, then the match will be displayed as open even though it has been closed. This section may be used to issue a report listing the bank reconciliation at the end of the fiscal year (even if closings were recorded afterwards).

Sort Open Transactions: This field determines the field by which open transactions are sorted.

Amount: The currency to be displayed in the Amount column. Naturally, it is recommended that this currency be the currency by which the reconciliation is performed. Meaning, for cards matched by their local currency amounts, select the currency to be L.C, while for cards matched by their F.C amounts, select the currency: F.C Amount.

 

Note: It is recommended to match all cards by the amount in NIS only, and when the match made is for F/X transactions, it is recommended to activate the Record Rate Differentials By Match section. In this way, the NIS matches will always overlap with the F/X matches, and at the end of the year it will always be possible to know what the NIS balance of the card is.

 

Print matched Transactions: This section may be used to limit the Filtering of closed transactions to be printed. If you only want to see open transactions, select Exclude matched transactions. If you want to see only a part of the closed transactions, select Print matched transactions from Match Number. This number indicates the serial number of the closing (the software numbers closings consecutively). For example, provided the last closing number in the previous year was 10000, if you want to see closings from the end of the previous year onwards, limit the initial closing number.

 

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