Map Text on Recurring Payments to Accounts for Automatic Reconciliation

On the Text-to-Account Mapping page, which you open from the Payment Reconciliation Journal page, 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.

Similar functionality exists to reconcile excess amounts on payment reconciliation journal lines on an ad-hoc basis. For more information, see Reconcile Payments that Cannot be Applied Automatically.

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 on the Text-to-Account Mapping page. 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. Choose the Lightbulb that opens the Tell Me feature icon, enter Payment Reconciliation Journals, and then choose the related link.

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

  3. Choose the Map Text to Account action. The Text-to-Account Mapping page 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.

    Note

    If no other payments exist with the mapping text in question, then the text-to-account mapping will occur even when only a part of the text on the payment exists as a mapping text.

  5. In the Vendor No. field, enter the vendor that the payments will be posted to.

  6. 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.

  7. 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.

    Note

    Do not use the Debit Acc. No. and Credit Acc. No. fields in connection with payment reconciliation. They are used for incoming documents only. For more information, see Use OCR to Turn PDF and Image Files into Electronic Documents.

  8. Repeat steps 3 through 7 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 action on the Payment Reconciliation Journal page, journal lines for the payments that contain the specified mapping text will contain the mapped accounts in the Account Type and Account No. fields. 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 Bank Fees

To always post expenses that are related to fees from a specific bank, MyBank, to the general ledger account for bank charges and fees (account 60400), fill a line on the Text-to-Account Mapping page as follows.

Mapping Text Debit Acc. No. Credit Acc. No. Bal. Source Type Bal. Source No.
MyBank BLANK 60400 G/L Account BLANK

See Also

Managing Receivables
Sales
Set Up the Envestnet Yodlee Bank Feeds Service
Customizing Business Central Using Extensions
Working with Business Central

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