Match Transactions in Internal Ledger

IMPORTANT
It is extremely important that you set up and work within your own company to maintain your data integrity. If you work within any other company, your exercises will not function as intended and the data of other students might be affected. Predictable exercise results require that your data be isolated in your own company.

Basic Data Setup

In order to handle internal ledger transactions, you must have set up the basic data in the following exercise.

Internal Ledger Basic Data and Requirements

Required Data

Enter Internal Voucher

Purpose: To perform account matching for an internal ledger,  you must have transactions posted to the relevant account and internal ledger. In this exercise, you will enter internal vouchers to be posted to  accounts used in an internal posting method defined in Internal Ledger Basic Data and Requirements.

Windows:
Internal Voucher Entry

In the Internal Voucher Entry window, enter four vouchers with the following details. Note the voucher numbers in order to query for these vouchers when carrying out account matching.

Voucher Date Voucher Type Debit Account Credit Account Debit Amount Credit Account
2008-05-02 MI1 1510 3011 500 500
2008-06-05 MI1 1510 3011 1000 1000
2008-06-05 MI1 3011 1510 750 750
2008-06-05 MI1 3011 1515 250 250

Refer Internal Ledger Entry - Key Exercises for instructions.

Update Internal Ledger Vouchers

Purpose: The purpose of this exercise is to update the four vouchers you entered to IL1 internal ledger so that they will be available for account matching.

Windows:
Update IL Voucher

  1. Open the Update IL Vouchers dialog box.
  2. Enter MI1 in the corresponding From and To fields of the Voucher Type field.
  3. Enter 2008 in the corresponding From and To fields of the Accounting Year field.
  4. Enter 05 in the corresponding From field of the Accounting Period field and 06 in the corresponding To field.
  5. Enter your user ID in the corresponding From and To fields of the User ID field.
  6. Click OK.

Main Exercises

Match Open Items in Internal Ledger

Purpose: The purpose of this exercise is to show you how to match one or more debit transactions posted to a specific account with one or more credit transactions posted to the same account for a selected internal ledger.

Windows:
Internal Ledger Account Matching

  1. Make sure that you are using the IL1 internal ledger. Click Ledger ID to change the internal ledger if required.

  2. Enter 3011 in the Account field.

  3. Specify 2008 as the year and 06 as the period in the Period field.

  4. Click OK. The Internal Ledger Account Matching window will open. It will be populated with all unmatched transactions that are posted to the IL1 internal ledger for 3011 account up to 2008/06 accounting period. (Note:  Transactions posted using voucher types connected to GL, Affect IL ledger will be fetched only if GL and IL is selected as the IL account matching method for IL1 Internal Ledger in the  Define Internal Ledgers window.)

  5. Select the Match Transaction check box only for the three transactions (manual vouchers) with  2008-06-05 voucher date that you entered in the Enter Internal Voucher exercise.

  6. Save the matching. A message will appear informing you of the matching ID with which the matching is saved.

Note: If you select the Match Transaction check box for a combination of transactions of which the amount does not add up to zero, then the matching will be saved with a preliminary matching ID.

View Unmatched Transactions

Purpose: The purpose of this exercise is to show you how to view the unmatched transactions that should add up to the open account balance.

Windows:
IL Unmatched Transactions Report

  1. Select the Period option and enter the 2008 06 in the corresponding Until field.
  2. Enter 3011 in both From and Until fields in the Account group box.
  3. Select Include for the Simulation Vouchers field.
  4. Click Preview. The Internal Ledger Unmatched Transactions report will open. The transaction you entered for 3011 account with 2008-05-02 voucher date will be displayed in the report.

Cancel Matching

Purpose: The purpose of this exercise is to show how to cancel a performed matching of transactions.

Windows:
IL Voucher Rows Analysis
IL Voucher Details Analysis

  1. Open the IL Voucher Rows Analysis window or the IL Voucher Details Analysis window.
  2. Query for one of the vouchers you entered in the Enter Internal Voucher exercise.
  3. Select the row, right-click and then click View Matched Transaction. The View Internal Ledger Account Matching window will open.
  4. Right-click in the header of the window and then click Cancel Matching. The transactions will be removed from the View Matched Transactions window. If you view the transaction in either IL Voucher Rows Analysis window or the IL Voucher Details Analysis window, you would also note that information has been removed from the Matching Year, Matching Period, Matching Date and Matching ID fields.