Match entries

Use the Match entries form to match corresponding transactions in order to explain the balance on your account. The ledger accounts on the form are suspense accounts, intended for temporarily recording transactions. By selecting matching amounts, the amounts are compared and cleared. Any remaining amounts, of the transactions that have not been matched yet, provide an insight into the balance of the ledger account.

The Match form consists of the following components:

• In the top half, select the ledger account you want to match. The period you set determines which transactions are shown on the ledger account.
• In the bottom half, drag the transactions you want to match.
• On the right-hand side you will see some transaction details and a graph of the transaction balances.

Settings

Specify the following settings before you start matching:

• Select the Matching account check box for the ledger accounts to be used for matching open items. Only ledger accounts of the 'Balance' type that are marked as matching accounts can be used to link transactions to payments.
• Create a day book if you want to be able to post the differences found when the sums of the matched transactions do not equal zero.
• Create a ledger account if you want to be able to post those differences.

Example

Below is an example of a simplified process of a monthly pension deduction where the Pension ledger account is matched.

Step 1: The pension insurer sends a monthly invoice.

Step 2: The payroll firm sends a monthly payroll journal entry.

Step 3: The monthly wages are paid.

Step 4: The entries are matched.

Result after matching: the entries have the same matching code and are cleared.