Bank Direct Connect - Unmatched Bank Transactions

Overview 

The Unmatched Bank Transactions tab provides a listing of only the Bank Transactions that require a user’s interaction in some way to complete processing, such as populating fields before a Bank Transaction can be added as a new source record or to choose from multiple potential matches to complete matching to an existing source record. 

The Unmatched Bank Transactions tab is the new “work” area where you can come to quickly determine if there are transactions that require your attention. After you process a transaction on the Unmatched Bank Transactions tab, it will automatically be removed from this tab. However, it can still be viewed on the All Bank Transactions tab.

The Unmatched Bank Transactions is a subset of the All Bank Transactions tab.

Note: Click here to view the above image in full screen. 

Note: Up to 2,000 of the most recent Bank Transactions can display on the Unmatched Bank Transactions tab.

The Unmatched Bank Transactions tab includes the expanded drawer functionality, which allows you to view additional details about a transaction, as well as to add and/or modify information on a transaction. You can click the arrow on a row in the first column heading to expand (or collapse) the drawer and view the additional details. The sample screen below shows the additional details that will display once the drawer has been expanded on an “Add” action row.

The editable fields on the expanded drawer are fields that will display on the source record.

Note: Click here to view the above image in full screen. 

Note: Required fields in the expanded drawer display with a red asterisk (*).

The following types of source records can be added or matched from the Unmatched Bank Transactions screen:

• Cash Receipt
• Cash Disbursement
• Journal Entry
  Note: If a Journal Entry is added from Bank Direct Connect, the naming convention for the Journal Entry Name will automatically display on the Journal Entry record in the following format: BDC-<Source>-<Bank Transaction Name>-<Journal Entry Creation Date>. For example, if the Source is Plaid as the Aggregation Provider, the Journal Entry Name will display as: BDC-Plaid-BT-00065-12/12/2022. Another example would be if the Source is from a Financial File Import, the Journal Entry Name will display as: BDC-FinancialFileImport-BT-00047-12/13/2022.

Additionally, a Refund Cash Receipt can be matched, and a Bank Deposit can be matched from the Unmatched Bank Transactions screen. However, Refund Cash Receipts and Bank Deposits cannot be added from the screen. 

Note: If you attempt to add a Refund Cash Receipt, the source record type will automatically change to a Cash Disbursement.

The Unmatched Bank Transactions tab includes the following column headings:

• Actions - indicates the actions that can be performed to add or match a transaction to a source record. Available actions include Add, Match, and/or View.
• Date - indicates the date that the bank transaction was processed. 
• Account -  the Customer/Vendor Account that is associated with this transaction. Account is a required field if the Type is Cash Receipt, Refund Cash Receipt, or Cash Disbursement, which can be added by expanding the drawer. If the Type is Journal Entry, this is not a required field.
• Description - automatically displays from the downloaded Bank Transactions or the Financial File Import. For the "Add" action, the description can be modified by expanding the drawer and writing over the displayed description.
  Note: When matching to a source record, on a Cash Receipt, Cash Disbursement, and Journal Entry, if this field is blank on the source record, the Description field from the Bank Transaction record will be used as the Description field on the source record. For Bank Deposits, if this field is blank on the source record, the Description field on the Bank Transaction record will be used in the Deposit Reference field on the source record.
  Note: If the source record Description/Deposit Reference field already contains a description, when the record is matched, the existing information on the source record will not be overwritten.
  
• GL Account - the General Ledger Account that should be associated with the transaction. This is a required field, which can be added from the expanded drawer on the transaction row.
• Type - indicates whether the transaction is a Cash Receipt, Refund Cash Receipt, Cash Disbursement, or a Journal Entry.
• Amount - displays the amount of the transaction based upon the selected Ledger currency. Cash-In amounts display as a positive number and Cash-Out amounts display as a negative number in red.
  Note: If you download foreign Bank Transactions from Yodlee and have a Financial Institution Account (FIA) mapped in Bank Settings to a different Ledger, the Amount that displays for each row is based upon the currency of the FIA. However, the GL transactions created from the source records will be converted into the currency of the Ledger. Additionally, for potential matches to source records, the FIA currency and the Ledger currency must be the same.
• Details - identifies important information about the transaction. For example, if required fields are missing, the message displays in red to indicate the missing fields. Another Details example might indicate that one or more records were found, and include a hyperlink to the source record(s) for reviewing.

Do you want to learn more about:

• Matching to Source Records
• Warning Messages
• Sortable Column Headings
• Source Record Changes
• Processing Unmatched Bank Transactions (Add, Match, and/or View)

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Matching to Source Records

To assist with possible matches, additional information (if available) displays from the source record(s) such as the check number on a Cash Disbursement. When you click the right-arrow to expand the drawer on a “View” action, all records found that are possible matches will display.
Note: If the “View” action displays disabled/grayed out, this indicates that more than one match was found.

In the sample screen below with the drawer expanded, four possible matches were located for the Cash Disbursement in the amount of $961.00. 

Note: Click here to view the above image in full screen. 

The following information from a source record (when available) will be included to assist you with matching to the correct record. 

• Cash Disbursement
  • Date
  • Amount
  • Description
  • Check Number
  • Account/Payee
    Note: This information will display based upon a Vendor, Contact, or Employee entered as the Payee on the source record. 
• Cash Receipt
  • Date 
  • Amount
  • Description
  • Account/Payee
    Note: This information will display from the Customer field on a Cash Receipt.
• Refund Cash Receipt
  
  • Date 
  • Amount
  • Description
  • Check Number
  • Account/Payee
    Note: This information will display from the Customer field on a Refund Cash Receipt.
• Journal Entry Line
  • Date
  • Amount
  • Description
  • Account/Contact/Employee
    Note: If all three of these fields are populated on the Journal Entry Line (JEL), the information in the Account field will display here in the expanded drawer. If the Contact and Employee fields are populated on the JEL, the information in the Contact field will display here. If the Employee field is the only one populated on the JEL, the information from that field will display here. 

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Warning Messages

If a Financial Institution Account cannot be updated or if one fails to connect, a message will display on the Bank Transactions tab. To correct the problem, navigate to the Bank Settings tab. Then, refer to the Bank Direct Connect - Connection Messages article for information about how to correct the problem.

The sample screen below shows one example of a possible warning message that might display.


Note: Click here to view the above image in full screen. 

Sortable Column Headings

Sortable column headings are identified with an arrow to the right of the column heading name. For example, the Date column heading has an arrow to the right of the name. Click a sortable column heading to sort it in ascending or descending order.


Note: Click here to view the above image in full screen. 

Important: Sortable column headings will be locked during the application of Bank Rules. Therefore, if you modify Bank Rules and then refresh the page to apply the changes, sortable column headings will not function as expected until the Bank Rule changes have been applied to all available Unmatched Bank Transactions.

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Source Record Changes

After matching Bank Transactions to source records, if the Amount on a source record is changed or if the source record is deleted the following will happen:

• The Bank Transaction will return to an Unmatched status on the All Bank Transactions tab and it will be available to add as a new source record on the Unmatched Bank Transaction tab.
  Note: If this transaction should not be added as a new source record, it can be removed from the All Bank Transactions tab. 
• The Bank Transaction field on the source record will display blank since the transaction will no longer be linked to the source record.
• The Cleared Date on the source record will display as blank. 

If the Ledger or Bank Account on a source record that was matched to a Bank Transaction is changed, the source record will NOT be unmatched from the Bank Transaction. This will not change the related Ledger on the Bank Transaction or the Bank Account. 

In addition, if a Financial Institution Account (FIA) is remapped in the Bank Settings to a different Ledger and/or Bank Account, any Bank Transactions that are already associated with the FIA will retain the original match to the old Ledger and/or Bank Account.

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Process Unmatched Bank Transactions (Add, Match, and/or View)

The Unmatched Bank Transactions represent only the transactions that require a user’s interaction in some way, such as to match the correct source record or to populate fields to create a source record from the transaction. This is a subset of the All Bank Transactions tab.

Available actions include Add, Match, and/or View.

1. Navigate to Accounting Home and click the Create Entries tab. Then, under the Banking menu, click Bank Direct Connect.
2. Click the Bank Transactions tab. The Unmatched Bank Transactions tab displays as the default tab. 
3. From the top portion of the Bank Transactions tab in the Bank and Credit Card Transactions section, click the Financial Institution Account drop-down list to select the appropriate bank for which you want to process Unmatched Bank Transactions.
   
   At any time, the Refresh button can be clicked to reload the Unmatched Bank Transactions. This works similar to a browser refresh to reload the page with updated information. For example, a new Billing and/or Cash Receipt may have been posted, which includes a match to an unmatched transaction. Using this example, clicking Refresh will search for and display the matched record that was located.
   
   Note: When the Refresh button is clicked, the message below displays to make certain that you want to refresh the page. Any unsaved changes on the page will be discarded once the Refresh button is clicked.
   
   
   
   The Refresh button is available on both the Unmatched Bank Transactions tab and the All Bank Transactions tab. Clicking Refresh on either tab will refresh the page for both tabs.
   
   To ensure that you have all Unmatched Bank Transactions, you can click Update All to immediately download the latest available transactions. 
   
   Best Practice: It is recommended that you schedule the Bank Download job to automatically update Bank Transactions each day at a selected time. For more information, refer to the Schedule the Bank Download article.
   
   Keep the following points in mind if you click Update All from the Bank Direct Connect screen:
   
   
   1. If Plaid is the selected Aggregation Provider, and this is a newly connected Financial Institution, when you click Update All, a “Bank Update Failed” message may display in red. This is a normal message, which indicates that Plaid is still retrieving transactions. If this message displays, wait a few minutes, refresh the page, and then click Update All again. When Plaid completes the download, a message displays to indicate that transactions have been retrieved for the selected bank. Refresh the page to view the downloaded transactions in the data grid. 
   2. If Yodlee is the selected Aggregation Provider, when Yodlee completes the update process, a message displays to indicate that Yodlee has finished downloading transactions. The Update All button will continue to display as disabled until you refresh the page. Downloaded transactions will automatically display in the data grid.
      
      Note: If the Financial Institution Account drop-down list displays with blanks, access the BDC – Bank Settings tab, and wait until the screen completely loads. Then, return to the BDC – Bank Transactions tab and refresh the page. Your Financial Institution Accounts (FIAs) should display in the drop-down list.
      
      Note: To ensure that you have all Unmatched Bank Transactions, you can click Update All to immediately download the latest transactions. When you click Update All, the system will review Bank Transactions as far back as 14 days from the Initial Start Date for downloading. Duplicate transactions will not be included. This is a way to capture any pending transactions since the Initial Start Date and 14 days prior.
      
      Important: Update All uses the oldest Initial Start Date that displays for connected Financial Institution Accounts (FIAs). For example, Bank 1 might have an Initial Start Date of 09/01/2020 and Bank 2 might have an Initial Start Date of 10/1/2020. Using this example, when Update All is clicked, the date of 09/01/2020 will be used for all FIAs since it is the oldest Initial Start Date.
      
      
4. Process each unmatched transaction based upon the Actions column heading (Add, Match, and/or View.
5. Add a new Bank Transaction.
   Note: This step can only be performed if you have a Bank Transaction(s) with an Add Action.
   
   If the “Add” action displays in blue as a hyperlink, either click the Add hyperlink to automatically add the transaction to the available source record or expand the drawer if you want to make changes/review before adding.
   
   Note: If you have the Enable Global Automated Add setting selected on the Bank Settings tab, transactions that meet the criteria will automatically be added as source records.
   
   If the “Add” action displays disabled/grayed out, click the arrow to expand the drawer to add the missing required fields.
   
   
   
   In the example screen below, required fields (Customer and GL Account) were missing.
   Note: Customer and GL Account are required fields on Cash Receipts. Vendor and GL Account are required fields on Cash Disbursements.
   
   
   Note: Click here to view the above image in full screen. 
   
   Add the missing required fields.
   
   Note: Once the required fields have been added, the “Required Fields Missing” message disappears from the Details column to indicate that the record is now ready to be added.
   
   
   Note: Click here to view the above image in full screen. 
   
   Note: Directly below the Customer or Vendor field, a hyperlink to the Bank Transaction screen displays. You can click this link to review the information on the Bank Transaction record. The Bank Transaction screen is read only. Additionally, the Accounting Period Name also displays below the Customer or Vendor field on the expanded drawer.
   
   
   
   In addition to the required fields, you can add or update information for the following fields:
   1. 1. Description - automatically displays from downloaded Bank Transactions or the Financial File Import. For the "Add" action, the displayed description can be modified from the expanded drawer, if necessary.
         
      2. Source Record Type - click the drop-down list to select the type as:
         1. 1. Cash Receipt or Journal Entry Debit (when the Amount field is a positive number)
               -OR-
            2. Cash Disbursement or Journal Entry Credit (when the Amount field is a negative number).
               Note: When Journal Entry is selected as the Type, Account is no longer a required field. However, the GL Account is still a required field.
               
               Important: If you are planning to use Bank Rules, this Type drop-down list is NOT related to the Type field that is available on a Bank Transaction record. To view a Bank Transaction record, on a Bank Transaction line/row, click the arrow to expand the drawer and then, click the hyperlink in the Bank Trx Name field to view the Bank Transaction record
               
               
      3. Credit GL Account - displays when the Type is Cash Receipt.
      4. Debit GL Account - displays when the Type is Cash Disbursement.
      5. GL Account - displays when the Type is Journal Entry Debit or Credit.
      6. GL Variables 1-4 - identifies General Ledger segments that are used to report business units such as division or department.
      7. Project - encompasses everything that needs to be completed in order to reach a specific outcome on an engagement or event.
      8. Project Task - a single element or component of work that needs to be accomplished within a project.
      9. Product - identifies the item or service that is associated with the Bank Transaction.
      10. Cash Flow Category - automatically displays on downloaded Bank Transactions or the Financial File Import. The Cash Flow Category is used to categorize records in the Cash Flow Statement. You can click the X to remove the displayed Cash Flow Category and search for another one, if necessary.
      11. High Level Category, Master Category, and/or Detail Category – if this information was included on the Bank Transaction record, it will display here in the drawer as read only.
      12. Transaction Type – if the Type field on the Bank Transaction record was included, it will display as read only.
      13. Debit/Credit – if the Base Type field was included on the Bank Transaction record, it will display as read only.
          
          Once the required fields have been added (and any desired additional fields), click Add to add the transaction as a new source record.
          
          
          Note: Click here to view the above image in full screen. 
          
          Note: If you do not click Add to add the source record, your updates to the fields in the expanded drawer will be lost the next time the screen is refreshed.
          
          If the added source record is a Cash Receipt and the auto-post setting is enabled, the new record will automatically post. If the added source record is a Cash Disbursement or a Journal Entry, the posting status will display as Approved. These records will not automatically post regardless of the auto-post setting. 
          
          
6. Match a Bank Transaction.
   Note: This step can only be performed if you have a Bank Transaction(s) with a Match Action.
   
   If the “Match” action displays in blue as a hyperlink with only one source record found, click the link to automatically match the transaction to the available source record. Otherwise, click the arrow to expand the drawer and review the record before automatically matching. A hyperlink to view the source record is available in the drawer. When you are ready to match, click Match under the Actions column heading or click the Match button on the right side of the drawer.
   
   Possible matches can include both posted and/or unposted source records.
   
   
   Note: Click here to view the above image in full screen. 
   
   Note: If you have the Enable Global Automated Match setting selected on the Bank Settings tab, transactions with one (and only one) matched source record will automatically match to the appropriate source record. 
   
   
7. View a Bank Transaction.
   Note: This step can only be performed if you have a Bank Transaction(s) with a View Action.
   
   If the “View” action displays disabled/grayed out, this indicates that more than one match was found.
   
   Tip: To assist with matching records, refer to the Matching to Source Records section above.
   
   
   Note: Click here to view the above image in full screen. 
   
   Click the arrow to expand the drawer to view the available records.
   Note: Once the drawer is expanded, the Action column heading displays as "Match" instead of the word "View" being disabled/grayed out. Additionally, the “Add” radio button displays, and the “Match” radio button displays as selected.
   
   
   Note: Click here to view the above image in full screen. 
   
   Click the hyperlink to view each source record to determine which is the correct match.
   
   Do one of the following:
   
   1. 1. Click the radio button to select the appropriate source record to match, if necessary. Then, click Match (under the Actions column heading or click the Match button on the right side of the expanded drawer). 
      2. If this Bank Transaction should not be matched to the source records that display in the expanded drawer, but should be added as a new source record, click the Add radio button. Add the required fields and any other desired fields. Then, click Add.
8. Continue to Add, Match, or View Bank Transactions, as necessary.
9. (Optional) After processing the Unmatched Bank Transactions, click the All Bank Transactions tab to view the transactions that were added and/or matched, as well as any other transactions for the selected Financial Institution. 

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Summer '23 Release

Release Notes and Schedule

The label name on the following three read only fields on the expanded drawer have been updated:

• Source Record Type
• Transaction Type
• Debit/Credit

The Refresh button to reload the page was added with this release. 

____________________

Spring ’23 Release

Release Notes and Schedule

• If a Journal Entry is added from Bank Direct Connect, the naming convention for the Journal Entry Name will automatically display on the Journal Entry record in the following format: BDC-<Source>-<Bank Transaction Name>-<Journal Entry Creation Date>. For example, if the Source is Plaid as the Aggregation Provider, the Journal Entry Name will display as: BDC-Plaid-BT-00065-12/12/2022. Another example would be if the Source is from a Financial File Import, the Journal Entry Name will display as: BDC-FinancialFileImport-BT-00047-12/13/2022.
• Plaid is available as an Aggregation Provider.