Rules Engine: Check Matching in Transactions

Rules Engine: Check Matching in Transactions

When LedgerSync has a check image for a client's bank account, it automatically links the image to the matching bank transaction. In the Rules Engine you can open the check from that transaction, see the details read from it, such as who it was paid to and the memo, and correct those details if they were read wrong.

How check matching works

Check images come from a Premium Bank Connection (Statements & Checks). LedgerSync links each check image to a transaction from the same client's MasterCard or MX bank feed. A transaction is a match when:

  • The whole-dollar amount is the same. Cents are ignored.
  • The date is the same: the day the check cleared is compared with the transaction's date or posted date.
  • The bank name is similar enough and, where both sides have an account number, the last four digits are the same.

A matching check number makes a transaction a stronger match, but it is not required. Each transaction can be linked to only one check image.

What you see in the Rules Engine

Go to Rules Engine, choose your accounting platform (QuickBooks, ZohoBooks or Manual) and open Transactions. When a transaction in the list has a matched check, a Show Check Image icon appears in a column on the right of its row. Click the icon to open the check. You see:

  • The check number, check date and amount
  • The check image
  • The details read from the check: Pay To, Amount, Check Number, Bank Name, Check Date and Memo

Correcting details that were read wrong

The details are read automatically from the check image, so handwriting or a poor scan can cause mistakes. To fix them:

  1. Click the Show Check Image icon on the transaction.
  2. Change the fields that are wrong, for example Pay To.
  3. Click Update.

LedgerSync saves your correction and keeps it when the bank sends the check again. If the check still has an amount and a check date, LedgerSync matches it again using your corrected details, so the check can move to a different transaction if you changed the amount or date.

Clear & Reset: re-applying rules to selected transactions

Clear & Reset clears the payee and category on the transactions you select. In the QuickBooks area, LedgerSync then re-applies your rules to them automatically.

  1. In Rules Engine, open Transactions for your accounting platform and choose the For Review status.
  2. Select the transactions you want to reset.
  3. Click Clear & Reset.
  4. Confirm the prompt "Clear the selected transactions? Their rules will be re-applied automatically."

After you confirm, you see one of these messages:

  • "Transactions were reset. Rules are being re-applied..." The list stays on screen while the page waits, for up to 5 minutes, for the rules to finish.
  • "Transactions were reset" There is nothing for the page to wait for, and the list reloads straight away.

When the page has been waiting, it shows one of these results and then reloads the list:

  • "Rules re-applied." The rules have been re-applied.
  • "Some transactions could not be re-categorized. Please contact support." Some transactions could not be re-categorized. Contact LedgerSync Support.
  • "Rules are still being re-applied. Refresh the page in a few minutes to see the results." The rules did not finish within 5 minutes, or the page could not check their progress. Refresh the page in a few minutes.

The page only waits while you stay on it. If you leave, the rules keep being re-applied in the background. Open the Transactions list again later to see the results.

Requirements

  • The bank must be connected through a Premium Bank Connection, which downloads check images.
  • The check image must be in LedgerSync. You can see check images under Bank Connections > Checks.
  • The client must also have the account connected through MasterCard or MX, so there is a bank transaction to link the check to.

Need Help?

Contact LedgerSync Support at support@ledgersync.com

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