Quickly locate and match unmatched transactions using Smart Matching's search feature.

Smart Matching Search streamlines your workflow in matching unmatched transactions by providing the following time-saving features:

  • Quick Filters: Select the most common transaction types from a predefined list of filters.

  • Dual transaction description and account name search: Search for transactions by narration and account name/code simultaneously.

  • Suggested multi-transaction matching: Simple Fund 360 will suggest multiple transactions to match based on the total dollar amount of the original unmatched transaction.

  • Single screen Split matching: Complete all your transaction matching using both the Split and Search features without needing to leave the one screen

 

To get started using the Search feature, click Search while reviewing a transaction to match:

Quick Filters

Quickly narrow down your search by using the Quick Filter drop-down menu to locate your unmatched transactions.

This can be accessed by clicking the drop-down arrow under Quick Filter.

Multiple transaction types can be selected by successively selecting each transaction type:

Dual Search

Save time when matching your transactions by searching across both the Account Code/Name and transaction description.

To start narrowing down the transaction results shown by Simple Fund 360, begin typing in the Description / Account field. Any transactions that contain the text entered in either the Account Code/Name or Description / Account field will be displayed.

Suggested Matching

Take advantage of the data powering Simple Fund 360's Smart Matching and let Simple Fund 360 suggest the transactions to match for you.

Simple Fund 360 will suggest transactions to match based on:

  • The sum of their dollar amounts;
  • The date range selected in the search screen;
  • and other filters applied in the search screen

If Simple Fund 360 has suggestions to match in the Search screen, these will be pre-selected for you:

If the suggested transactions are incorrect, simply untick them and further refine the filters until either the transactions are selected automatically or you locate the correct transactions.

Search / Split Matching

Match your unmatched transactions in a single screen without needing to navigate away to split transactions to multiple accounts.

Selected transactions in both the Split Transaction tab and Search Transaction tab will be applied to the current transaction amount being matched:

 

 

 

Smart Matching or Transaction Matching?


Smart Matching is Simple Fund 360's latest matching feature and will eventually supersede the Transaction Matching screen. However, during this transition period if you would like to access the original screen:

Hover your mouse over the Accounting icon and select Transaction Matching in the side menu. 

 

 

Overview


Simple Fund 360 Smart Matching is designed to assist you in streamlining your SMSF processing. It encompasses the key features of data feeds, transaction matching and rule creation; alongside the introduction of Simple Fund 360's "Smart Post" technology.

 

What is "Smart Post" technology? 

Smart Post technology looks to reduce the exceptions left in suspense accounts post-data upload by using deep learning algorithms to predict the chart control/normal account to be allocated to the outstanding transaction with a Confidence level indicator. Smart Post technology is used in conjunction with Simple Fund 360's existing automation methods:

  • Transaction Matching Rules created in Simple Fund 360 to allocate re-occurring transactions to pre-selected accounts; and
  • BGL's ASX and UUT Automated Data Feed, automating dividend and distribution allocations alongside the buy and sell automation of share trading under The Share Data Pack.






What are the benefits of Smart Matching?

  • Ability to view up to 4X more transactions on-screen alongside improved filtering options;
  • Simple Fund 360 Smart-Post technology incorporates deep learning to better understand your transaction categorisation, assisting you in faster reconciliation; and
  • Increased matching rule transparency, better disclosing which transactions are allocated by particular rules.  


Recognised Transaction Automation 

The illustration of Smart Post technology is best outlined with reference to the Recognised tab in Smart Matching. 

Expect the counter to the right of the Recognised heading to increase exponentially as you utilise Simple Fund 360's Smart Post capabilities for bulk processing opportunities:

  • Past user coding based on the same narration/description will display account allocations for increased coding efficiency;
  • Simple Fund 360 account coding suggestions from the AI will appear for you to approve; and
  • Display rules that have allocated transactions but have been created with the intention to "Review before applying" allocations. 

Navigation


From the Main Toolbar, go to Accounting.
Select Smart Matching.

Key Points


  • Use the on-screen search filters to summarise the screen to your advantage. Type in dates, descriptions and categories such as account codes/names to narrow your results for faster coding. 


  • The More Details panel will appear for transactions that require additional information such as distributions and disposals.

  • Each bank will have two key tabs where transactions are loaded to - All and Recognised. Familiar transactions to Simple Fund 360 will appear under the Recognised tab for even faster coding. Transactions appearing under the All tab will contain a predicted control/normal account with a confidence indicator for you to further review. 

Matching Transactions


From the Main Toolbar, go to Accounting.
Select Smart Matching.

  1. Click beside the 'Credit interest 12448' transaction on the 25/06/2016.

  2. Select the Westpac Term Deposit Account sub-account for the interest received.

  3. Click Create Custom Rule.

     

 This will open a wizard that will guide you through the steps required to create a Transaction Matching Rule.

Step 1. When bank transactions match All or Any of the following conditions: 


Choose to apply all or any of the following conditions to determine the criteria required for transactions to match the new rule. 

Keep the Match Condition to "Contains"

Criteria
Explanation
DescriptionIf an unmatched transaction description matches all or contains some of the description value input for the rule, code this unmatched transaction to the matching criteria selected.
AmountIf a transaction's amount is equal to the specified value, code this unmatched transaction to the matching criteria selected.
Applied to DateIf a transaction's date is equal to the specified date, code this unmatched transaction to the matching criteria selected.

Update the Condition field from Credit Interest 12448 to Credit Interest

Step 2. Account

 


 

FieldExplanation
Apply to all Bank AccountsSimple Fund 360 will apply the Transaction Matching Rule to all bank accounts for the fund. Leave Unticked
Review before applyTransactions allocated by Transaction Matching Rules can be reviewed under the "Recognised" tab in Smart Matching. Both newly created rules and pre-existing rules appear for Review (where More Details may be required) or Match under the Recognised tab when the rule option "Review Before Apply" has been selected. Leave Unticked

 

Step 3. Rule Name


You will be able to input a name for the matching rule. Leave the default name

Click Create Rule & Match Transactions to add the matching rule to Simple Fund 360.

For further examples refer to Lesson 4 in SF360 Training Manual Professional edition. 


Data Entry


Multiple methods to record bank data in Simple Fund 360 such as data feeds, file imports and manual processing are available. The Data Entry screen has been added to assist you in faster manual cash transaction coding. It is recommended to be used:

  • For bank accounts where a data feed is not/can not be used; and
  • For amounts coded into excel spreadsheets, which can be easily pasted into the input fields. 

For instructions on using the Data Entry screen refer to Fast Spreadsheet Data Input (Cash Code)

Import CSV


From the Import CSV screen you can map and import Bank Statement transactions (using CSV files) into SF 360. 

  • Upload CSV file to for a bank account;
  • Create your own CSV files; or
  • Use JetConvert to create CSV files from provided PDFs. 

Refer to CSV Import Tool (Smart Matching) for further instructions. 

Rule Transparency - Review before apply


Transaction Matching Rules are an effective way to automatically allocate common transactions to the correct account with minimal user interaction. As effective as rules are in reducing time-to-process transactions, transparency of these rules has always been limited in Simple Fund 360:

Example: A rule has been applied by a user to one transaction, after creating the rule multiple transactions have been allocated to the ledger. Which transactions were allocated by this rule?

Example: Existing matching rules have automatically allocated transactions loaded from a bank data feed. Is there an easy way to view the transactions allocated by the user rule? 

 

Introducing the Smart Matching solution: Rule Transparency!

Transactions allocated by Transaction Matching Rules can be reviewed under the "Recognised" tab in Smart Matching. Both newly created rules and pre-existing rules appear for Review (where More Details may be required) or Match under the Recognised tab when the rule option "Review Before Apply" has been selected.