Payment Reconciliation Context Words

Business Value

During payment reconciliation, document numbers are extracted from the payment reference of incoming bank transactions to automatically match open entries. Partial document numbers are also considered. To improve recognition accuracy — especially for bulk transfers where multiple document numbers appear in the payment reference — context words can be defined that increase the weighting of a recognized partial document number.

Feature Description

365 business Banking analyzes the payment reference of imported bank transactions and searches for document numbers. Using Payment Reconciliation Context Words, the recognition of partial document numbers can be specifically improved: if the payment reference contains a defined context word near a potential document number, that match is weighted more strongly.

When 365 business Banking is installed, common context words are automatically preconfigured. These can be extended or adjusted at any time.

For more information on setting up context words, see the article Payment Reconciliation Context Words.