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How to autoreconcile One to Many EFT Payments in Cash Management — Cloud Customer Connect
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How to autoreconcile One to Many EFT Payments in Cash Management

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Summary:

How to autoreconcile One to Many EFT Payments in Cash Management when not all payments in the payment process request are cleared at the same time by the bank

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Hello,

Our client makes multiple EFT payments to suppliers. The EFT payments are individual payments in Cloud Payables, but appear as one lumpsum payment on the bank statement.

We have a Bank Statement Reconciliation Matching Rule for EFT which is One to Many, with the Grouping Attribute set to Payment Process Request Name and the matching criteria set to Amount.

This matching rule works well when the bank clears all the payments in the payment process request at the same time. However, quite often, the bank clears some payments and not others, so the amount does not match using Autoreconciliation, leading to manual intervention by the bank reconciliation team.

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