How to: Map Text on Recurring Payments to Accounts for Automatic Reconciliation

In the Text-to-Account Mapping window, which you open from the Payment Reconciliation Journal window, you can set up mappings between text on payments and specific debit, credit, and balancing accounts so that such payments are posted to the specified accounts when you post the payment reconciliation journal.

Payments posted based on text-to-account mapping are not applied to open entries, but are merely posted to the specified accounts in addition to creating bank account ledger entries. Accordingly, text-to-account mapping is suited for recurring cash receipts or expenses, such as frequent purchases of car fuel or bank fees and interest, that regularly occur on the bank statement and do not need a related business document. For more information, see the “Example – Text-to-Account Mapping for Fuel Expense” section in this topic.

Note

Payments on reconciliation journal lines are only set to posting according to text-to-account mapping if the automatic application function can only provide a match confidence of Low or Medium. If the automatic application function provides a match confidence of High, then the payment is automatically applied to one or more open entries, and the payment is not posted to the accounts specified in the Text-to-Account Mapping window. In other words, a match confidence of High overrules a text-to-account mapping.

On a payment reconciliation journal line where the payment has been set to posting according to text-to-account mapping, the Match Confidence field contains High – Text-to-Account Mapping, and the Account Type and Account No. fields contain the mapped accounts.

To map text on recurring payments to accounts for automatic reconciliation

1. In the Search box, enter Payment Reconciliation Journal, and then choose the related link.

2. Open a payment reconciliation journal. For more information, see How to: Reconcile Payments Using Automatic Application.

3. On the Home tab, in the Application group, choose Map Text to Account. The Text-to-Account Mapping window opens.

4. In the Mapping Text field, enter any text that occurs on payments that you want to post to specified accounts without applying to an open entry. You can enter up to 50 characters.

5. In the Debit Acc. No. field, enter the account that payments containing the mapping text will be posted to if they are incoming payments.

   Note

   The sign of the value in the Statement Amount field in the Payment Reconciliation Journal window must be positive.

6. In the Credit Acc. No. field, enter the account that payments containing the mapping text will be posted to if they are outgoing payments

   Note

   The sign of the value in the Statement Amount field in the Payment Reconciliation Journal window must be negative.

7. In the Bal. Source Type field, specify if the payment will be posted to a general ledger account or to a customer or vendor account.

8. In the Bal. Source No. field, specify the account that the payment will be posted to, depending on your selection in the Bal. Source Type field.

9. Repeat steps 4 through 8 for all text on payments that you want to map to accounts for direct posting without application.

Next time you import a bank statement file or choose the Apply Automatically function in the Payment Reconciliation Journal window, journal lines for the payments that contain the specified mapping text will contain the mapped accounts in the Account Type and Account No. fields, and the Match Confidence field will contain High – Text-to-Account Mapping. This is on the condition that the automatic application function can only provide a match confidence of Low or Medium.

Example – Text-to-Account Mapping for Fuel Expense

1. To always post fuel expenses incurred at Shell gas stations to the general ledger account for gasoline (account 8510), fill a line in the Text-to-Account Mapping window as follows.

   Mapping Text	Debit Acc. No.	Credit Acc. No.	Bal. Source Type	Bal. Source No.
   Shell	BLANK	8510	G/L Account	BLANK

You can also create text-to-account mappings when you create documents or general journal lines from the Incoming Documents window. For more information, see Text-to-Account Mapping.

See Also

Tasks

How to: Set Up Rules for Automatic Application of Payments
How to: Reconcile Payments Using Automatic Application
How to: Review or Apply Payments After Automatic Application
How to: Import Bank Statements

Other Resources

Text-to-Account Mapping
Text-to-Account Mapping
Payment Reconciliation Journal
Debit Acc. No.
Credit Acc. No.
Bal. Source Type
Bal. Source No.
Account Type
Account No.
Match Confidence