Why are there no suggested matches in my bank feed?

Millswood_CC

Have just started using the bank feeds in Reckon One. I enter the bills before we pay them so there should be suggested matches but there are none. Have the same problem with invoices issued. No possible matches are found. Why would this be?

klaura

Hi Millswood_CC,

Reckon One matches transactions according to the amount and date. On the same day, if no matches are found, it searches one day before and one day after the transaction date. Your transactions won't be automatically matched if they take place outside of this three-day window

Make sure that the amounts in your bills and invoices and the amounts in your bank feed transactions match precisely.

We have a KB article that will provide you more information about this. You can check it out here.

Suggested Matches - Reckon Help and Support Centre

I hope it helps.

Best regards,

Karren

klaura

Hi Millswood_CC,

I am glad it started working now. Yes, when you have bills and invoices that need to be allocated, you have to use that function Allocate detailed payment or allocate detailed receipt. For any other transactions that doesn't have any invoice or bill, you can use the function Allocate receipt or payment and add in a Contact and Accounts. More information here:

Allocate Transactions - Reckon Help and Support Centre

As for the 3-day window, as it turns out, it is the products limitation. You can, however, suggest this to Reckon Product Ideas. You can either vote for a feature already suggested by another customer and/or submit their own suggestion.

Best regards,

Karren

Millswood_CC

This is a disturbing limitation.

My experience is with MYOB, which considers 5 days either side of the bank transaction date and allows the user to change the timeframe to search further out. This is more realistic as I'm used to entering the actual date of the bill, which is better for accounting purposes, and invoices are rarely paid within 1 day of being sent out. We allow most people either 14 or 30 days to pay.

I am assuming that my only option is to change the date of the bill or invoice to match the date of payment - is that correct?

Millswood_CC

Well, I just tried that solution and it didn't work. Do you have another suggestion?

klaura

Hi Millswood_CC,

We might need to take a look at your book so we can check what's preventing it. I will send you a private message for your account details.

Best regards,

Karren

klaura

HiMillswood_CC,

As I mentioned in a private message, a Transaction Rule should be created to pick up a match.

I just wanted to know if this fixed your problem.

Best regards,

Karren

Millswood_CC

If I created a transaction rule for every one of the problematic transactions I would be making hundreds. Rules are for recurring transactions not one-offs and I will set some up for monthly direct debit transactions, but that is not the issue here. These are individual invoices and bills which generally don't recur and I thought the matching process should pick them up.

Some extra comments:

1. 3 days is not sufficient for the search function. Bills are entered by the date on the invoice. MYOB use a wider date range (I think 5 days each side of the bank transaction date). They also have a search function alongside the matching process that allows the dates of the search to be changed to pick up older transactions. I know we (another business) pay much more for MYOB and therefore have greater functionality but still think that a 3 day window is too restrictive. A user search would be great, but just changing the date range for matches would be really useful.
2. We've only had bank feeds in Reckon for a short time but I discovered that I could use the "Allocate detailed receipt" and "Allocate detailed payment" functions to process invoice receipts and bill payments. However, at the time I raised this query these functions did not work and I spent ages trying to find a way to ensure the payments and receipts were attached to the right items. For some reason these functions are now working again and I can allocate everything properly. Is it this the intended use for these functions? Is the matching process for different types of transactions (ie not for bills and invoices)?

Thanks for your help. I really appreciate it.