In this release, we have added powerful algorithms and options in cash matching to increase your match rates, as well as UX enhancements to save you time:
- Finding matches within roll-ups
- Single-sided matching between credits and debits
- Toggle tolerance matching per pass
- Update account settings through file upload
- User experience enhancements
Finding matches within roll-ups
Bad data quality is a general problem in cash reconciliation. When you do not have enough good roll-up keys to further segregate your data, you can now use Duco to find matches within roll-ups. Duco will look for combinations within each roll-up that can be matched with the other side as defined by match rules.
Single-sided matching between credits and debits
In business scenarios such as trade cancel and correct, and internal fund transfer, transactions appear on one side and they net to zero. They are good to be matched with each other, no investigation needed. Instead of doing this manually, you can now configure a pass to match these items automatically. Transactions with positive and negative amounts within a roll-up in one side will be matched if they net to zero.
Toggle tolerance matching per pass
Duco matches items for you automatically if the amount difference is smaller than the configured tolerance level. You can now choose to use that tolerance or not at pass level, so you can find perfect matches first, before looking for ones with small difference, for example.
Bulk update account settings through file upload
Some settings for accounts and account groups may change regularly, such as tolerance levels when your policy changes or foreign exchange rates move. You can now update your account settings in bulk using CSV upload. Duco will update existing accounts from the file, or add them as new accounts if they were not present yet.
User experience enhancements
To save your time in break investigation, we have made several user experience enhancements including:
- Performance improvement in Accounts overview
- New design for Statements and Submissions screen