Archive Matched Transactions Not Finding Transactions to Archive

Summary:

Getting a message that states that no transactions were available to archive.

Content (required):

We are currently in the process of trying to automate our archive and purge process using the new archive and purge matched transactions functionality that was added to ARC this year. However, whenever we try to perform an archive transaction request the system says there are no transactions to archive. I've confirmed that all transactions in the reconciliation for the target period/time frame have been matched, so I'm not sure why we are getting this message.

Is there any additional criteria that needs to be met for the archive function to identify and archive the transactions (i.e., rec status)?