Copy Bank Reconciliation Rule Sets to Matching Rule Sets

Security: These domains in the Banking and Settlement functional area:

Set Up: Bank Reconciliation

Set Up: Matching Rule Set

You can copy your existing bank reconciliation rule sets to new matching rule sets. This enables you to create and maintain matching rule sets to use for automatic bank statement reconciliations.

Access the

View Bank Reconciliation and First Notice Item Rule Sets

report.

Select the

Copy Bank Reconciliation Rule Sets to Matching Rule Sets

related action on a bank reconciliation rule set.

You can also click the

Copy Bank Reconciliation Rule Sets to Matching Rule Sets

button to copy multiple rule sets at once.

If a bank reconciliation rule set contains a suggestion rule with the

Reconcile Suggested Items if Equal

check box selected, Workday:

Copies this suggestion rule to a 1-to-many matching rule.

Creates an additional 1-to-1 suggestion rule for suggesting potential matches when the cumulative amount of the reconcilable items doesn't match the bank statement line amount.

You can drill down to view the bank reconciliation rule copied as both a reconciliation rule and suggestion rule in the

Rules Providing Reconciliation and Suggestion

column.

(Optional) View matching rule sets to confirm that they copied from bank reconciliation rule sets correctly.

As you review the rule sets, consider:

The order of the matching rules should match the order of the bank reconciliation rules.

The

Stop Match if Found

option on bank statement reconciliation rules is embedded in matching rules. Matching rules don't attempt to find an alternative line for matching once Workday finds an initial match.

Workday evaluates bank reconciliation condition rules to determine if matching rule filter criteria and match on criteria can replace the condition rule. If so, the newly created matching rules won't have any condition rules.

For bank reconciliation suggestion rules that you copy to 1-to-many matching rules, Workday automatically groups the reconcilable items by the match on criteria defined in the suggestion rule conditions. You can change the

Group By

value by editing the matching rule set.

Click the

Update Reconciliation Configuration for Bank Accounts

button to assign the created matching rule sets to bank accounts.

Workday assigns the matching rule sets to the same bank accounts assigned to the bank reconciliation rules. Once assigned, Workday inactivates the bank reconciliation rule sets on the bank accounts.

You can also edit a bank account to manually assign a newly created matching rule set, and inactivate the bank reconciliation rule set for automatic bank reconciliations.

(Optional) Test new matching rule sets to ensure that they're reconciling and suggesting the same bank statement lines and reconcilable items as the corresponding bank reconciliation rule sets.

Workday applies your newly created matching rules during automatic reconciliations. This includes all previously scheduled automatic reconciliations.

Steps: Set Up Automatic Bank Account Reconciliation