Automated bank statement matching

When a bank statement file is uploaded for reconciliation, FinDock automatically tries to match the transactions from the bank statement with installments in Salesforce. The basis for automated matching is the Payment Reference or (if present) the End to End Id.

Basic flow for credit transactions

When FinDock finds a single, outstanding (not collected) installment based on Payment Reference, it marks the installment as collected and creates a payment for it equal to the amount of the transaction. If the installment amount and transaction amount are not equal, however, the flow is different.

Transaction amount > Installment amount

If the transaction amount is greater than the installment amount, FinDock takes into account the Overpaid Installment Handling setting in ProcessingHub. This setting has three options:

  • Manual Review: the transaction is marked for manual review and not processed any further
  • Book all on current: FinDock books the total amount against the current installment, creating one payment for the amount of the installment and a second payment for the remainder
  • Book remainder on next: FinDock creates a payment for the amount of the installment, marks it as collected, and moves to the next installment based on the Multiple Installment Handling setting, creates a payment for the amount of the next installment, marks it collected, and so forth. This continues until the transaction amount is fully booked or there are no more Installments. If there are no more installments and the transaction amount is not yet fully booked, the entire operation is rolled back, and the transaction is marked for guided review.

Transaction amount < Installment amount

If the transaction amount is less than the installment amount, FinDock takes into account the Underpaid Installment Handling setting in ProcessingHub. This setting has two options:

  • Partially Paid (default): If the transaction has a smaller amount than the installment, FinDock creates a payment for the amount of the transaction and it marks the installment as ‘Partially paid’ rather than Collected.’
  • Manual Review: When the option ‘Manual Review’ is chosen, the transactions are not matched automatically, but rather added to Manual Review.

Multiple installments for credit transaction

If the available Payment Reference or End to End Id on the transaction matches multiple installments, the automatic matching flow depends on the Multiple Installment Handling setting in ProcesingHub. First, it analyzes your value for “Multiple Installment Handling.” This setting has three options:

  • Manual Review: any transaction that matches multiple installments is marked for manual review
  • Oldest Due Date: FinDock selects the oldest (based on due date) open installment and uses that to match the transaction using the Basic Flow for Debit Transactions (see below).
  • Most recent Due Date: FinDock selects the installment with the most recent due date (which might be in the future) and uses that to match the transaction using the Basic Flow for Debit Transactions.

Credit transaction without installment

If FinDock is unable to locate an installment for the transaction, but it can find a FinDock file record where the group identifier field matches the Payment Reference or End to End Id, FinDock treats the transaction as a batch payment. If the total amount of the installments connected to the file record matches the amount of the transaction, all the installment are marked as collected and payments are created. If the total amount differs or if no installment or file record is found, FinDock marks the transaction for manual review. For more information, see Preparing an installment batch for reconciliation.

Basic flow for debit transactions

Debit transactions are handled differently from credit transactions. FinDock requires an installment to be found on Payment Reference or End to End Id that is already set to collected and where the amount matches the amount of the transaction. If no installment is found, multiple installments are found or there is a mismatch in the amount, the transaction is always marked for guided review.

Transaction sub-elements with charges

  • If a transaction contains transaction sub-elements, these are matched if the parent transaction is matched.
  • Matching for transaction sub.elements means:
  • A new installment with RecordType ‘Payable’ is created with status ‘Paid’
  • A new payment with a negative amount for the charge is created under the installment.

The transaction sub-element record is set to ‘Matched.’ The installment and the transaction sub-element are related via a lookup on the installment, allowing you to create comprehensive reports to detail the charged amount per bank. The transaction sub-element contains the originating party. Usually this is provided in the form of a BIC for the charging bank.