NetCash Automation Rules - Auto-Matching
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: GL Match, Create Transaction, and Create Transfer.
This article will go over in detail how to GL Match. For information on the other automation rule types, reference the NetCash Automation Rules article.
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 GL Match type. This will cause the page to refresh and change the visible fields to only those related to this rule type.
- Fill out the below fields as applicable:
| Field Name | Required | Field Description | Example |
|---|---|---|---|
| Name | Yes | This is a descriptive name used to identify what the automation rule does. | Entity Match (Auto) |
| Status | Yes | Select the appropriate status for the rule: Active, Testing, or Inactive. | Active |
| Group | Yes | This field is where the user would select the group/groups to which this rule relates. This article explains Automation Groups. | All Accounts |
| Amount Variance Limit | No | If the user anticipates minor differences in the amount between what comes through the bank account and the amount on the corresponding transaction(s) in the G/L. In that case, the user may indicate the maximum amount of that difference in this field. If the field is populated, transactions within the variance will be considered potential matches. If left null, the assumed variance is 0. | 2 |
| Date Tolerance | No | If the user anticipates date differences between the incoming bank transactions and transactions already on the GL, then the user may indicate the maximum amount of date tolerance. If left null, the assumed tolerance is 0 (meaning the bank and G/L transaction(s) must have an exact date match). | 1 |
| Require Review | No | This field indicates that the user does NOT want this G/L match rule to run by itself, but wants to see a list of potential matches and choose the ones that apply. This feature can/should also be used to test GL match rules before they are run by themselves. Anything that requires match confirmation will be evaluated on the "Auto Match" page. |
- Once the fields are set, select Create
- Three new subtabs will appear: Filters, Match Criteria, 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. If multiple filters are applied, transactions must meet all requirements identified on the Filters tab, respective to being a Bank or NetSuite transaction.
- Select New Filter at the bottom of the Automation Rule record.
- Fill out the information below for each desired filter:
| Field Name | Field Description |
| Source | This field allows the user to specify which transactions they want the filter to apply to (Bank or NetSuite Transactions). |
| Field | The user can specify which field they want the filter to look at. |
| Operator | This comparison operator evaluates the fields "Field" and "Value". |
| Value | The user can specify the value that should be filtered out of this automation rule. |
- For example, if only transactions larger than $2,000 should be included in this automation rule, then the "Source" field would be "Bank Transactions", the "Field" would be "Amount", the "Operator" would be "Greater Than", and the "Value" would be "2000".
All filters will be applied to the transactions. If either of two filters can result in the match, two different GL matching rules will need to be created.
- Once the filters are set, select the subtab titled Match Criteria. This section is used to help clarify which transactions should be automatically matched.
- Select the button New Match Criteria.
- Here are explanations of all available fields regarding match criteria.
| Field Name | Field Description |
|---|---|
| Bank Field | This field contains the fields on the NetCash Bank Transaction record (these are the records that represent transactions that have come through the bank connection). Here, the user selects a field that they want to evaluate. In the example pictured below, we're looking at the transaction "check number" field. |
| Operator | This is the bridge between the bank transactions and G/L transactions. The operator compares the selected bank activity field to the G/L field. The options are IS, CONTAINS, and BEGINS WITH. The example below shows the operator as an "IS" because it is comparing the "Check Number" on the bank transaction to the "Transaction ID" on the G/L transaction; if these fields are the same, then the assumption is that it's a match. |
| GL Field | This field contains the fields on the NetSuite transaction records. Here is where the user selects the field they want to evaluate. The example pictured below looks at the "Transaction ID" field. |
| Match Null Values | This field only applies if the user is trying to match criteria with a null field value. By default, null values are not considered matches. |
- To require ALL criteria to be met for NetCash to make the match, select the toggle Require All Criteria. Not toggling this field tells NetCash to make the match if ANY of the criteria are met.
- Once all the necessary criteria have been added, select the Grouping subtab. This functionality is optional, and is for situations where a user wants to match one bank transaction to many NetSuite GL transactions, many bank transactions to one NetSuite GL transaction, or many bank transactions to many NetSuite GL transactions. For more information, see Grouped Auto-Matching.
- Next, select the subtab titled Transaction Template. When matching a transaction and an "Amount Variance Limit" has been established on the rule record, it is necessary to specify which rounding account should be used if a G/L match is made and the amounts do not match exactly. This section is used to identify the rounding account that will be used with the GL matching rule.
- If this information is incorrect for this specific rule, click the pencil icon to the right or double-click any cell and correct the applicable fields. You can type to search for the account you are looking for. By default, the dropdown will only show the first few options, but you can type to search for all options.
- For a "G/L Match" type, the system will default to using the Rounding Account that was specified in the corresponding Account Record. The information from those records will be used. If this information is incorrect 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
- The best way to test G/L match rules is to enable the NetCash Automation Rule "Require Review" toggle. This will cause the automation rule not to automatically match bank to G/L transactions, but instead to put potential matches on the Auto Match Bank Transactions page for review.
- To review potential G/L matches, navigate using the left sidebar to NetCash > Bank > Auto Match Bank Transactions.
- From this page, use the filters to select a bank account (required), and then select the newly created automation rule from the automation rules filter.
- All potential matches will be listed below with a confidence percentage based on the number of matching criteria, and a description of the parameters that caused the transaction to be matched, as seen in the picture below.
- In the screenshot above, there is a 99% match because the date matches, the amount matches, the Check # matches (from our bank matching criteria), and the Bank Activity merchant field contains "Blossoms Shop" (also in the rule's matching criteria).
- The text on the left represents the bank transaction and concatenates the transaction date, the merchant, and the amount. If there is no merchant, the description will be included instead.
- The text on the right represents the GL transaction and concatenates the date, vendor (if there is one), memo, and amount.
- Both of the text values are hyperlinks to the transactions. If, for example, the date was within the date tolerance and not an actual date match, the transaction would drop its match percentage from 99% to around 90%.
- If the rule is pulling in the correct matches, the user can go into the automation rule record, remove the "Require Review" setting, and have NetCash begin auto-matching. All matches, whether automatic or reviewed, can be seen on the Review Matches page.