Match transactional data

Once you’ve loaded your transactions from your bank, you’re ready to begin using the transactional data to create new invoices, purchases & bank transactions and allocating them to existing ones; this is called Matching in IRIS Elements Cashbook.

When you match transactional data you can:

• Create a new item such as an invoice or purchase based on the transactional data that has been collected from your bank.

• Assign a payment to an existing invoice or purchase, or replace an existing bank transaction with the transactional data that has been collected from your bank.

  Ignore a transaction to prevent it being imported.

You must have loaded transactions into IRIS Elements Cashbook before you can perform matching.

Creating an Invoice, Purchase or Bank Transaction (Example 1)

Example 1; a customer has deposited £100 in your bank account for something they have bought, however you have not created an invoice for them in IRIS Elements Cashbook already. You need to create an invoice for them and then apply the payment.

Bank feeds can now do this automatically for you with just a few clicks.

To create an invoice from the imported transaction;

1. Import your bank transaction data.
2. From the Action column select Match.
   
   
3. The Match transaction dialogue displays. Select Create.
   
   

If the amount is a money in transaction, then Invoice will be pre-selected, if the amount is money out then Purchase will be pre-selected. You can change this if required by simply selecting the appropriate item (i.e. refunded payments). If the payment does not require an invoice or purchase to be created and only needs to be recorded as a bank transaction, select Transaction.

4. Select the Customer or Supplier, or select + to add a new one.
5. Enter the Purchase Order / Reference for this invoice.
6. Select the Sales Code to record this amount against. The whole amount will be recorded against that sales code.
7. Select the rate of VAT to be applied to the amount. This will work out the VAT amount.
8. Select Create.

The invoice will be created, however the payment won’t be imported until you select Import.

Assigning Payments to Invoices, Purchases & Bank Transactions (Example 2)

Example 2; the bank has charged you £10 for going into an unauthorised overdraft, however you’ve not recorded this in IRIS Elements Cashbook. You need to record this payment to make your IRIS Elements Cashbook bank account match your real-life bank account balance.

To assign an imported transaction to an existing invoice, purchase or bank transaction;

1. Import your bank transaction data.
2. From the Action column select Match.
   
   
3. The Match transaction displays. Select Assign.
   

If the amount is a money in transaction, then Invoice will be pre-selected, if the amount is money out then Purchase will be pre-selected. You can change this by selecting the appropriate item (i.e. refunded payments). If the payment relates to a bank transaction and not any invoice or purchase then select Transaction.

If you assign the payment to an existing bank transaction then the existing details will be updated with the imported details, i.e. if you had a transaction for £20 with the comment “bank charge”, and you assigned a transaction for £20.10 with comment “overdraft fee” the latter would replace the existing transaction details.

4. Select Invoice, Purchase or Transaction as appropriate from the menu.
5. (Optional) Search for the appropriate item. Search on invoice, purchase number, customer, supplier, purchase order, reference and amount.
6. When ready select Assign.

The match will be made, however the payment won’t be assigned until you select Import.