Exact Globe+

How-to: Customizing payment allocation rules for CAMT bank statement import

Introduction

In Exact Globe Next, you can create custom allocation rules for CAMT bank statement import via the Allocation rules screen and link these rules to specific cash instruments. This solution is useful for automating the payment allocation and reconciliation processes on unallocated entries resulting from external formats and systems.

Note: This solution is also applicable for Exact Compact.

Description

The Allocation rules screen can be accessed by clicking Allocation rules at the bottom of the cash instruments maintenance screen via Cash flow ? Cash instruments ? Maintain. However, the Allocation rules button will be displayed in the cash instruments maintenance screen only after you have selected the CAMT Import: Allocation rules check box in the bank settings. For more information, see Bank settings.

This document describes the following topics:

• Prerequisites
• Creating and maintaining custom payment allocation rules
• Linking custom payment allocation rules to cash instruments
• Setting the sequence order of the custom payment allocation rules

Prerequisites

• You must have SE1030, SE1103, SE1703, SE1705, or SE2303 in your license.
• The CAMT Import: Allocation rules check box must be selected in the bank settings. For more information, see Bank settings.

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Creating and maintaining custom payment allocation rules

To create custom payment allocation rules for CAMT bank statement import, do the following:

1. In the cash instruments maintenance screen, click Allocation rules.
2. In the Allocation rules screen, click New.
3. Define the name of the rule and its description at Rule and Description.
4. At Status, select Active or Inactive to enable or disable the rule after creation. Only allocation rules with the Active status are applicable for the bank import.
5. Select Cast in or Cash out at Transactions for the type of transaction you are customizing the payment allocation rules.
6. Each rule must contain at least one condition that is made up of a combination of SEPA-related keywords and user-defined values. Each field listed in the Conditions section under the Criteria tab are the keywords which you can specify their variable values by selecting the required operators such as Equal to, Starts with, or Includes, as shown in the following example:
   
   
   In the Allocation section, you can allocate all matched imported entries to the debtor or creditor specified at Account. If the Account field is not defined, the entry will be allocated to the unknown debtor for the Cash in transactions, and unknown creditor for the Cash out transactions.
   
   In the Entry section, you can predefine the general ledger for the entries allocation to be created automatically and matched to the imported entries. Hence, if the G/L field is not defined, the imported entries will be allocated and remain unmatched.
   
   In cases where the Account field is defined while the G/L field is left blank in the Allocation rules screen, and the debtor or creditor at Account has the Automatic matching setting configured, the system automatically matches and registers the entry to a cost or expense G/L. For more information, see Direct cost allocation improvement in cash flow entry.
   
   All values in the other fields defined in the Entry section will be used in the allocation entry created such as Project, Item code, Cost centre, Cost unit, and Person. In addition, if the VAT code field is specified in the Entry section, the VAT term is created for the allocation entry.
   


7. Click Save, and then Close to exit.

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Linking cash instruments to the custom payment allocation rules

To link cash instruments to the custom payment allocation rules created for CAMT bank statement import, do the following:

1. In the cash instruments maintenance screen, click Allocation rules.
2. In the Allocation rules screen, define the search criteria.
3. Click Search.
4. Select the required rule from the search results.
5. Click Open.
6. Select the Cash instrument tab.
7. Select the required cash instrument(s) listed in the Not linked section.
   
   
8. Click  Add to link the selected cash instrument(s) or  Add all to link all of the cash instruments to the rule. Likewise, click  Remove or  Remove all to remove linked cash instrument(s) in the Linked section from the rule.
9. Click Save, and then Close to exit.

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Setting the sequence order of the custom payment allocation rules

When a cash instrument has multiple rules linked to it, you can set the sequence order of the rules to apply to the bank import process. To set the sequence order of the rules linked to a specific cash instrument, do the following:

1. In the cash instruments maintenance screen, click Allocation rules.
2. In the Allocation rules screen, define the search criteria.
3. Click Search.
4. Select the required rule from the search results. Any cash instrument linked to the selected rule will be displayed in the Cash instruments section, as shown in the following example:
   
5. Select the required cash instrument.
6. Click Browse in the left panel of the Cash instruments section.
7. In the Allocation rules – Sequence screen, select a rule, as shown in the following:
   
8. Click Up or Down to arrange the order of the rules to be applied to the CAMT bank statement import.
   

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Related documents

• Bank settings
• Exact video library