The Transactions tab displays the match status of individual transactions and the review status of any exceptions.
Unmatched transactions will appear in the Unreviewed bucket. These can be taken through a full review lifecycle. Click here for more details regarding Duco's exception management functionality.
The tabs provide features to filter and sort the data in the same way in generic processes, see here for detail.
In addition, these are available in cash conciliation results view:
- Search for values - it displays all options appropriate to this process for quick search;
- Search by text - you can enter one or multiple text values to make your search easier, simply pressing Return to quickly add values to the search list.
This screen shows all unmatched transactions as well as the ones matched recently, giving you a result set that is the most relevant to your day to day work without the noise from matches in the past.
The number of days of recent matches can be set by process. Contact your Customer Success representative for more information, or to update this setting.
Apart from transactions in various exception workflow statuses and match statuses, there is also a category called Ungrouped. This is the transactions belong to accounts where are not yet included in any account group. For instance, accounts created automatically by but not yet processed by account administrators would have their transactions appear here. By looking at the number of transactions in this category, and their details by clicking on it, an account admin can decide when they need to process these ungrouped accounts.
Applying labels to cash transactions
In cash reconciliations, you may want to categorise unmatched transactions automatically by conditions or manually, as part of exception management. Similar to generic processes, you can use labels to do this. You can apply one or multiple labels to cash transactions, individually or in bulk, in the result screens. Or alternatively you can use Workflow Rules to label them automatically based on conditions.
You can then filter and sort transactions by labels, making it easier to search and manage. Transaction labels are also included when you export data to spreadsheet.
Scope for Excel and XML extraction
Similar to the Recent transactions tab, when you extract cash process data through Excel (available from UI and API) and XML (available through API), all outstanding unmatched transactions and recent data will be returned. You can specify (through contacting your CS Representative) the age window for recently matched data, limiting the amount of data being exported and making your downstream system integration more streamlined.
This parameter can be configured for each cash reconciliation process. Contact your Customer Success representative for more information.
Easily investigate cross-account breaks
Duco's cash reconciliation process features a transaction repository which will show you all of the transactions for all of the accounts set up in that process (unless you filter down to only display you transactions for a subset of accounts). This makes it easy to investigate if an individual transaction has been mistakenly posted in a wrong account.
The Statements tab offers a statement-level view. Statements are marked as either having outstanding Unreviewed transactions or marked as having All exceptions resolved.
Sub-tabs allow you to navigate between to the two sides of the process.
Checking the Statements with errors box acts as a filter, allowing you to just focus on statements with errors..
Statement errors will show highlighted in red.
Selecting the ID for a given submission will allow you to drill down into individual line items.
This shows you the statement details and all the items.
Duco will automatically detect if a statement is a duplicate during statement load by looking at:
- opening balance
- all of the individual movements (value date and amount)
- closing balance
Items from duplicate statements have a status of closed and are not be visible in the transactions view.
You are able to manually mark a statement as “not a duplicate”. This makes transactions visible on the transactions view and eligible for matching.
The Submissions tab allows you to see all files submitted and if any of them contained errors.
This can be determined by looking at the Status column, which will either say Loaded or Loaded with errors.
When automatic creation of accounts is enabled, the submission screen will show the number of accounts created per submission. When you click on the link, it will show you those accounts in the account setting screen, so that you can immediately group them and fill in other information.
When Duco identifies an error in a submission or a statement, a warning message will display. This message provides both the number of the bad submission/statement, as well as the exact number of errors.
To drill down into the errors, select the relevant tab, then select the ID.
This will then return a detailed explanation of the error, allowing you to easily identify the issue.
The statements you receive for your cash reconciliations may sometimes be inconsistent, or in some cases not even be generated. When you cannot receive a corrected version, you can amend balances for the statements within.
- This allows you to keep balances and transactions in sync
- Missing transactions will be created if needed
- Amendment of balances is tightly controlled by our Balance administrator role
To amend a balance, you go into the individual statement and click Amend balances.
This will create transactions if needed and indicate that the balance has been modified. You must enter a reason for this action in order to proceed.
In some cases such as an error is detected on the statement, account is out of proof or a break is due to missing transaction in a statement, you may want to submit a correct version of the statement. Before you do so, you can first delete the erroneous statement by clicking on that statement ID to go to the Statement view, and click on Delete statement. Duco will prompt you to enter "DELETE" in the box as confirmation.
The statement will then be marked as deleted, all its transactions will break apart from matches and hidden from the transaction view, all other statements for that account will be reordered, and balance proofing re-calculated.