Release 1.45.0
Release Date: 26.09.2024 8pm - 11pm (UTC+2)
Version 1.45.0 of ReconHub is here! This latest release brings several important updates designed to enhance your transaction management process. We’ve simplified rule creation, introduced convenient rule templates, and added features to support more flexible matching scenarios. These improvements are aimed at streamlining your workflow, reducing manual effort, and increasing accuracy in your reconciliations. Explore these updates below to take your transaction management to the next level.
Allow or Disallow Amount Differences for Manual Matches
We’ve added a configurable option for each tenant to better control manual matching of transactions with differing amounts. This new setting gives you control over whether amount differences between matched transactions are permitted or not.
If differences are allowed, you can manually match transactions of different amounts and ReconHub automatically stores the amount difference, which you can later post to your accounting system. This is equivalent to the ReconHub behavior before this feature was introduced and is also the default setting for each tenant.
Newly, you can also chose to disallow differences. In this case, ReconHub will only allow manual matches if the amounts are exactly the same, ensuring strict accuracy.
This feature helps tailor the matching process to your specific needs, whether you require more flexibility or tighter control over transaction reconciliation.
This feature only affects manual matches. Automatic matches through rules will still allow differing amounts if you use tolerances when configuring the rules.
Combining Exact and Tolerant Rules
In previous release we improved transaction matching by introducing Exact and Tolerant Matching Rules. With this release, we are simplifying the rule management for these rules, to reduce the effort required to create and maintain rules.
With this release, users do not need to distinguish between Exact and Tolerant rules anymore. ReconHub now does this automatically in the background.
This means you will now see one single table of rules and also when creating a rule, you will not need to chose between Exact or Tolerant anymore.
In the background, ReconHub still distinguishes between Exact and Tolerant rules for better matching efficiency.
How it works:
- When creating a transaction match rule, you can choose to include a tolerance.
- ReconHub will first attempt to match transactions exactly. If an exact match isn’t found, the rule will apply the tolerance, broadening the criteria to find a suitable match.
- All rules are processed based on the priority you've set in the rules list, regardless of whether they include a tolerance.
Benefits:
- Simplifies Rule Creation: No need to create separate exact and tolerant rules—just add tolerance to a single rule if needed.
- Reduces Maintenance Effort: Managing fewer rules makes the process more efficient.
This update helps streamline the management of transaction match rules, providing flexibility and reducing complexity, all while maintaining consistency in the matching process.
Transaction Match Rule Template
To improve the setup and consistency of transaction match rules, ReconHub now supports Transaction Match Rule Templates. These templates can be used when setting up a new tenant or enabling a new source, such as ECR or EFT.
When creating transaction match rules, you can select from predefined templates that are tailored to specific payment processors, interfaces, features, or additional tags. This takes away the hassle of manually setting every detail, saving you time and making sure everything is standardized across all transactions.
Improvements to the New Transaction Matching
With Release 1.44.0, we introduced a new and improved way to match transactions. With this release, we are adding more functionality and improvements.
You might not have access to these features yet, because the New Transaction Matching is rolled out to customers over time.
Match Detail View
In the previous release, we introduced the Transaction Matches page to provide an overview of matched transactions. Now, we’ve added a dedicated Match Details page for a more detailed view of each transaction match.
From the Transaction Matches page, simply click the chevron icon next to any transaction match to see key match details. For more in-depth information, select All match details to open the full Match Details page. This page is divided into three tabs:
- General: Shows key transaction details, including the business date, organizational unit (OU), payment processor, terminal ID, merchant number, and contract number.
- Processing: Displays matching details, such as match state, transaction match rule, single or multiple match status, and a balance table for further clarity.
- Posting: Provides a data table with all connected postings (if available), showing the associated accounting entries for each transaction.
Below these tabs, you’ll find a detailed data table presenting the matched ECR and EFT transactions side by side, similar to the Exceptions view. This layout makes it easier to compare transactions and verify balances.
Manual Balance Matching Across Dates and Business Units
With the introduction of manual balance matching, we also want to introduce a way to match transactions with different business dates or organizational units. This feature gives you more flexibility when dealing with complex reconciliation exceptions while ensuring control over the process.
For example, you may need to match a delayed transaction with one from a different business date or reconcile transactions from different organizational units that relate to the same event. When performing these types of matches, you’ll be asked to confirm your awareness of the differences by checking a confirmation box. This ensures you acknowledge the discrepancies before finalizing the match, helping to maintain accuracy and control.
Please note: The adjustment will use the latest business date among all involved ECR transactions. All transactions must belong to the same mandator.
Reset Transaction Matching
The Reset Transaction Matching feature allows you to easily delete transaction matches when necessary. This option is available for transactions in the Unmatched or Skipped state that don’t have any associated postings.
For instance, if you accidentally skipped a transaction and need to correct it, you can now quickly reset the match, fix the mistake, and reprocess the transaction. This feature helps save time and ensures your records remain accurate.
Settlement Net Amount in Open Item List
Our latest update adds the Settlement Net Amount to the open items list. With this enhancement, all settlement net details are now easily accessible, ensuring you have the necessary information for faster and more accurate reconciliation.
Change Logs
See all change logs for this release.
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