New: On Screen Click Filtering


The matching screen can now be filtered by selecting the following on screen fields:



FieldExplanation

Account Name

(J and M Banking in example above)

Select the bank account name to filter the screen to all transactions for the selected bank account.

Date

(01/05/2017 in example above)

Select a date to filter the screen to display only transactions occurring on the selected date.

Description

(Credit Interest in example above)

Select a description to filter the screen to display only transactions with the same description. This is an opportunity to filter the matching screen by common narrations for which you can make Transaction Matching Rules which will automatically allocate these transactions the next time they are loaded from a bank feed!

What is Transaction Matching? 


Transaction Matching allows you to quickly and easily review and code outstanding uploaded bank statements in Simple Fund 360. Transactions uploaded from an automated source such as the Bank Data Service can be reconciled to the correct accounts before they are uploaded to the Transaction List.  Any unmatched transactions are uploaded to account 91000 - Bank Data Clearing Account, which then triggers them to appear in the Transaction Matching screen for you to match.

Transactions can be:

  • Automatically matched - Bank statement transactions which Simple Fund 360 can reconcile will be matched automatically for you.
  • Suggested matches - Bank statement transactions that cannot be instantly reconciled will be matched by Simple Fund 360 for you to review as suggested matches. You can then accept the suggestion and match the transactions.
  • Manually matched - Any remaining unmatched transactions can be reconciled and coded by you.

 

To match a transaction from the main toolbar select Accounting, open the Transaction Matching tab, and select Unmatched.

The page is divided into two sections, on the left you have the outstanding entries that were uploaded from the Bank Data Service that are yet to be allocated or coded.

On the right you have the matching criteria, this is where you can allocate the transaction to an account and input any additional information if required.

Navigation to the Transaction Matching screen


From the Main Toolbar, go to Accounting.

Select Transaction matching from the list.

Filter for one bank account


If a fund is using bank feeds for more than one bank account, it is advised to use the search filter to narrow the unmatched transactions at the bank account level. Search by the bank account name (60400/ANZ for example) to avoid matching entries/making rules for transactions to the wrong bank accounts. 

The matching screen can now be filtered by selecting the following on screen fields:



FieldExplanation

Account Name

(J and M Banking in example above)

Select the bank account name to filter the screen to all transactions for the selected bank account.

How to Match an Unmatched Transaction


  1. From the Transaction Matching screen, select Unmatched. The Transaction Matching screen will now display any unmatched transactions. 

  2. The page is divided into two sections, on the left you will have outstanding entries that were uploaded and are yet to be allocated or coded.




  3. On the right hand side is the matching criteria. This is where you can allocate the transaction to an account and input any additional information if required. 



    When matching certain transactions (for example contributions and distributions) that require additional information to be input the More Details Panel will display. 



    Select More Detail to input additional information. For instructions about the More Details panel and how to use the panel for matching other types of transactions, refer to Task 4.2 Transaction Matching of the Simple Fund 360 Professional Manual. 


    In the example above, The user selected More Details to allocate the contribution as Employer. 

  4. Once you have allocated the account, this will activate the Match Button for you to confirm this transaction and record it to the Transaction List. 

Matching Multiple Trades to the One Settlement Amount


Multiple buy and sell trades executed in the course of two days will be usually be offset or combined by the Broker the residual (Net) amount between the trades or combined amounts of the trades paid from or to the bank account upon settlement. 

Where both the Bank Feed and Share Transactions have been imported, SF360 will automatically match these transactions using the settlement date provided by the Investment feed. You will see the following on the Transactions screen. 

 

There may be some cases where Matching does not occur 

These can be matched manually by doing the following:

  1. Click on the Search button on the Matching screen. This will search for any uncoded Trades between the dates displayed
  2. Select the Trades which add up to the Settlement amount 
  3. Click on the Match button

Matching a Split Transaction


Split transactions can be matched in Simple Fund 360. Where one bank entry is made up of two or more amounts, simply input the first amount under the New Transaction field. Simple Fund 360 will add another field to input the remaining amounts to the transaction. When all amounts have been input, tick each checkbox to the left of each amount and select Match

Screen Features


The Transaction Matching screen can be broken down into the following sections: 

Screen FeatureExplanation
Suggested MatchSelect Suggested to only display transactions that Simple Fund 360 has matched and suggested for you. Select New Transaction if you do not want to use the suggestion.
UnmatchedSelect Unmatched to only display transactions that have not yet been matched.
Transaction ListSelect Transaction List to view the Transaction List.
Search

Use the Search feature to filter the Transaction Matching screen by your desired options. Select Advanced Search to complete a detailed search for any unmatched transactions.

You can also filter the matching screen by date range to simplify the process.

Date Filter

Use the Date Filter to display a specific date range of unmatched transactions.

Order

You can sort the unmatched transactions by ascending or descending depending on the order you want to match them.

Transaction Matching RulesSelect Transaction Matching Rules to create Matching Rules which Simple Fund 360 will use to match bank statement transactions automatically. Refer to Transaction Matching Rules for more information.
View Bank StatementSelect View Bank Statement to preview the downloaded bank statement in report format.
Hide OptionsSelect to hide the above options from the screen.