Defining Application Method

When reconciling bank statement lines in the bank account reconciliation, Statement Intelligence will automatically apply bank statement lines based on various criteria on the bank statement line. However, if Statement Intelligence finds more entries that potentially match the bank statement line based on the matching criteria, you can define how the application should be managed.

To define a default application method

  1. Use the Search for page or report icon and search for Banks, and then select the related link.
  2. Open the relevant bank card to which a default application method must be defined.
  3. On the bank card, on the Statement Intelligence FastTab, in the Reconciliation Method Debit field, use the dropdown arrow to choose how to reconcile bank account ledger entries that have the same date and amount as the bank account reconciliation line.
    • Select Apply to Oldest if you want to reconcile the bank account ledger entry occurring with the earliest date.
    • Select Manual if you manually want to select which bank account ledger to reconcile.
  4. In the Reconciliation Method Credit field, use the dropdown arrow to choose how to reconcile bank account ledger entries that have the same date and amount as the bank account reconciliation line.
    • Select Apply to Oldest if you want to reconcile the bank account ledger entry occurring with the earliest date.
    • Select Manual if you manually want to select which bank account ledger to reconcile.

To define an application method for a specific customer

  1. Use the Search for page or report icon and search for Customers, then select the related link.
  2. Open the customer card, for whom you want to specify an application method.
  3. On the customer card, on the Payments FastTab, in the Application Method field, use the dropdown arrow to choose how you want payments to be applied in the bank account reconciliation.
    • Choose Manual if you manually want to manage the application of a bank statement line that does not have a unique match.
    • Choose Apply to Oldest if the bank statement line, for which more than one potential match is found, should automatically be applied to the ledger entry occurring with the earliest posting date.

To define an application method for a specific vendor

  1. Use the Search for page or report icon and search for Vendors, then select the related link.
  2. Open the vendor card, for whom you want to specify an application method.
  3. On the vendor card, on the Payments FastTab, in the Application Method field, use the dropdown arrow to choose how you want payments to be applied in the bank account reconciliation.
    • Choose Manual if you manually want to manage the application of a bank statement line that do not have a unique match.
    • Choose Apply to Oldest if the bank statement line, for which more than one potential match is found, should automatically be applied to the ledger entry occurring with the earliest posting date.

To define an application method for a specific employee

  1. Use the Search for page or report icon and search for Employees, then select the related link.
  2. Open the employee card, for whom you want to specify an application method.
  3. On the employee card, on the Payments FastTab, in the Application Method field, use the dropdown arrow to choose how payments must be applied in the bank account reconciliation.
    • Choose Manual if you manually want to manage the application of a bank statement line that do not have a unique match.
    • Choose Apply to Oldest if the bank statement line, for which more than one potential match is found, should automatically be applied to the ledger entry occurring with the earliest posting date.

To activate or deactivate the use of application criteria

You can disable the automatic search for customer-, vendor- and employee ledger entries to be applied when importing a bank account statement. By disabling the automatic search for customers, vendors, and employees you must manually select which customer, ledger or employee ledger entries to match with the bank account statement lines.

You can also disable the automatic search to find and reconcile bank account ledger entries using the fields Transaction Date, Statement Amount, and Difference from the bank account reconciliation line. By disabling the automatic search you must manually select the bank account ledger entries to match.

  1. Use the Search for page or report icon and search for Banks, and then select the related link.
  2. Open the relevant bank for which you want to activate or deactivate the use of application criteria.
  3. On the bank card, on the Statement Intelligence FastTab, select if you want Statement Intelligence to search for customer-, vendor- or employee matches. You can enable or disable the automatic search for the following accounts:
    • Don't search for Customer
    • Don't search for Employee
    • Don't search for Vendor
  4. In the Don't search for date/amount field, select if you want Statement Intelligence to search for customer-, vendor- or employee matches using the search criteria: Date, Amount, and Difference.