NetCash Bank Automation Rules - Auto Transfers
Overview
NetCash seeks to make bank reconciliations as easy and automated as possible. To assist with this, NetCash has automation rules to perform matching without manual processes. There are three types of automation rules offered in NetCash: Auto-Matching, Transaction Creation, and Auto Transfers.
This article will go over in detail how to setup Auto Transfers. For information on the other automation rules types reference the NetCash Automation Rules article.
There are two key limitations for auto transfers:
1. The transactions must be between accounts that have the same currency.
2. The transactions must be for the same amount and on the same day.
Step by Step Process:
Navigating to Automation Rules
- Navigate to NetCash > Setup > Automation Rules.
- This is a list of all automation rules that have been created. To create a new rule select New +.
Setup
- On the Automation Rule record select the Type as a Create Transfer type. This will cause the page to refresh and change the visible fields to only those that relate to this rule type.
| Field Name | Required | Field Description | Example |
|---|---|---|---|
| Name | Yes | This is a descriptive name to help identify which accounts this transfer rule relates to. | Transfer Rule |
| Group | Yes | This field is where the user would select the group/groups this rule relates to. This article explains Automation Groups. | All Banks |
- Once the fields are set, select Create
- Two new subtabs will appear: Filters and Transaction Template
- Rule Filters allow users to specify which transactions should be filtered out of the automation rule. There can be as many filters as desired for the automation rule.
- Select New Filter at the bottom of the Automation Rule record.
- Fill out the below information for each desired filter:
| Field Name | Field Description |
| Flow | This field is where the user can specify which side of the transaction they want the filter to apply to (Inflow, Outflow or Both). A rule must have at least one Inflow Filter and one Outflow Filter or one Both filter for the Flow. |
| Field | This is where the user can specify which field they want the filter to look at. |
| Operator | This is the comparison operator that is used to evaluate the fields "Field" and "Value". |
| Value | This is where the user can specify the value that should be filtered out of this automation rule. |
- For example, if only transactions less than $2,000 should be included in this automation rule then the "Flow" field would be "Both", the "Field" would be "Amount", "Operator" would be "Less Than" and "Value" would be "2000".
All filters will be applied to the transactions. If either of two filters can result in the auto transfers, two different auto transfer rules will need to be created.
- Once the filters are set, select the subtab titled Transaction Template
- When auto creating a transfer, it is necessary to specify which intercompany accounts and segmentations should be used.
- For a "Create Transfer" type, the system will default to the intercompany accounts specified in the NetCash Setup for both the Bank and Intercompany Accounts. For the segmentation, it will default to the segmentation on the corresponding account records. The information from those records is what will be used when the intercompany transaction is created.
- If this information is not correct for this specific rule, click the pencil icon to the right and correct the applicable fields.
- Once all the necessary information has been filled out, it is time to test the automation rule.
Automation Rule Testing
- Auto transfers has a preview page that allows the user to see which transactions will be captured by the new transfer rule.
- Navigate to the NetCash Bank Automation record and select the Preview Transfers button.
- This button will bring up a preview page of all transactions that would fall under this Auto Transfer rule.
- On the right side there will be a sidebar to help filter for specific transactions. The toggle "Show Matched Transactions" will bring up transactions that have already been matched. This is useful in looking at historical transactions that would have been caught by this transfer rule. It allows a check so that the auto transfer doesn't accidentally create transfers for things that it shouldn't, or fail to create transfers for things that it should.
- By turning off this toggle, it will only show transactions that would currently be caught by the rule and booked (unmatched transactions).
- On this page, the outflows (where the cash is leaving) will be on the left, and the inflows (where the cash is entering) will be on the right.
- If the transactions do not look correct, go back to the automation rule and make the necessary adjustments.
- If everything looks correct, then there is nothing additional needed for the auto transfers.