Auto Matching of Receipts & AutoMatch RuleSet

Apply Receipts using AutoMatch:

Receipt Remittance Reference information can be uploaded for an existing receipt in Receivables via receipt spreadsheet excel upload. The Excel integration leverages the “Apply Receipts using AutoMatch” process to automatically match and apply receipts to invoices based on the uploaded remittance advice information, drastically reducing the time required for manual data entry and receipt application.

 

During receipt processing, Receivables applies receipts to transactions based on the transaction information provided. In cases where the transaction information provided doesn't exactly match the transaction numbers on record, the AutoApply process attempts to find as close a match as possible and either apply the receipt to the transaction automatically or present one or more transactions as recommendations for manual receipt application.

AutoMatch rule set:

The active AutoMatch rule set determines how receipts are applied automatically and transactions recommended for manual application. You can assign an AutoMatch rule set at the customer site, customer account, lockbox, and Receivables system option level.

An AutoMatch rule set defines the minimum qualifying percentage score, based on assigned thresholds, necessary to recommend transactions for receipt application. The rule set also provides string handling assistance to search for transaction matches against reference strings, such as an invoice number

In like manner, during lockbox processing it may happen that a lockbox contains incomplete or inaccurate customer information. The AutoApply process attempts to match a customer to a receipt and present one or more customers as recommendations for the receipt.

The AutoMatch rule set provides information that is used by the AutoApply process to complete the process of applying receipts to transactions. The settings in the AutoMatch rule set provide these recommendations:

·       Customer recommendations: The matching process recommends customers for lockbox receipts that have invalid customer information.

·       Transaction recommendations: The matching process recommends one or more transactions for receipt application for both lockbox and manual receipts.

Task Name: Manage AutoMatch Rule Sets

 

AutoApply of Receipts

Set the Use AutoApply option for a lockbox or at the Receivables system option level for manual receipts. If you set this option, AutoApply automatically applies receipts and presents transaction recommendations based on the AutoMatch rule set, and handles exceptions based on the application exception rule set.

The active AutoMatch rule set determines how receipts are applied automatically and transactions recommended for manual application. You can assign an AutoMatch rule set at the customer site, customer account, lockbox, and Receivables system option level.

An AutoMatch rule set defines the minimum qualifying percentage score, based on assigned thresholds, necessary to recommend transactions for receipt application. The rule set also provides string handling assistance to search for transaction matches against reference strings, such as an invoice number.

Define AutoMatch Rule at Receivables System Options

Task: Manage Receivables System Options

 

Settings That Affect AutoMatch Recommendations

Recommendations are based on matching threshold levels defined in the AutoMatch rule set. These threshold settings determine the percentage level necessary to consider a customer or transaction for receipt recommendation:

·        

      Customer Recommendation Threshold: The qualifying percentage necessary to add customer information to a receipt. If the calculated score for a customer account number is above this threshold, then the AutoApply process adds this customer information to the receipt.

·       Minimum Match Threshold: The qualifying percentage necessary to recommend a transaction for receipt application. If the calculated score for one or more transactions is above this threshold, the AutoApply process recommends the transactions for receipt application, in order of the highest percentage match.

Note: The minimum match threshold must be less than the customer recommendation threshold and the combined weighted threshold. 

·       Combined Weighted Threshold: The qualifying percentage necessary for the AutoApply process to apply a receipt to a transaction automatically. This percentage is the sum of the qualifying percentages defined for the supplied customer information, transaction information, and actual transaction amount that is considered for receipt matching.

• Days of Closed Invoices Threshold: Determines which closed transactions to include in the AutoMatch process. All transactions that were closed on or before the number of days provided as the threshold value are considered for application or recommendation.

Applying Receipts without a Reference

Receivables will apply a receipt to a transaction or generate transaction recommendations without a remittance reference under these conditions:

·       Customer information on the receipt matches that of the transaction.

·       Receipt amount is equal to or greater than the transaction amount.

·       For lockbox processing, the AutoCash rule is unable to apply the receipt.