Setting up Statement Intelligence
When using Statement Intelligence by Payment Management for importing and managing bank account statements, you will be assisted in the process of applying the statement lines with both closed and open ledger entries. In case a match is found in the bank account ledger entries the application will automatically take place, while a match identified in the open ledger entries will lead to reconciliation suggestions being created by Statement Intelligence.
Using the features of Statement Intelligence you are close to automating the reconciliation process to a maximum. Also, the ability to set up reconciliation rules can help you discover and resolve missing payments and bookkeeping errors.
Note
Statement Intelligence can only reconcile bank account statements for bank accounts that have been configured with Payment Management.
The following lists some of the most relevant configurations of Statement Intelligence.
| To | See |
|---|---|
| Manage that bank account statements are imported correctly to the bank account reconciliation, by defining the import format and import criteria | Managing the Import of Bank Account Statements |
| Define how journal lines are to be managed when importing the bank account statement. | Managing Journal Lines |
| Define which journals to use for processing amount differences created as suggested journal ledger entries. | Managing Amount Differences |
| Manage how bank account statement lines must be applied. | Defining Application Method |
| Manage allowed tolerances between the payment information stated on the bank statement lines and the information stated on the bank account ledger lines. | Defining Allowed Tolerances |
| Define the sender reference definition code used by Statement Intelligence to identify the bank account ledger entries to be applied. | Defining Sender Reference |
| Set up merge rules to manage the merge of bank statement lines. | Defining Merge Rules |
| Define reconciliation rules to identify matching ledger entries to be applied with the bank statement lines. | Setting up Reconciliation Rules |
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