Payment Matching
Payment Matching application allows you to process and post statements uploaded from a bank or other service provider. Gotransverse currently supports statements in CAMT053 .xml and lockbox .csv format.
You can upload transaction bank files and lockbox files manually in the Payment Matching application or pull them into Gotransverse through an SFTP server. Once a file is uploaded and validated, Gotransverse performs automatic matching on all transactions in the file. Accounts Receivable (AR) transactions that are payments will match to billing accounts and invoices. Any transactions that are not matched to a billing account are grouped into Holding Accounts. You can then manually clean up any matches that are not successful and submit transaction files or individual transactions. Submitting a transaction will post transactions in Gotransverse and record them in your general ledger. Transaction bank files and lockbox files can be viewed in the Transaction Files Module. Individual transactions can be viewed in the Transactions Module.
Transaction bank files include data for Accounts Receivable (AR) transactions such as payments and payment cancellations, credit adjustment reversals, and Non-Accounts Receivable (Non-AR) transactions. Non-AR transactions result in journal entries in a general ledger, such as transfers or bank fees. Transaction bank files are in .xml format.
A lockbox is a service (often provided by a bank) to which customers send their payments. The service picks up the payments on a regular schedule and deposits the payments into your company's account. The service then creates a lockbox file that lists the payments and identifying information and sends the file to Gotransverse for processing. Lockbox files are in .csv format. Refer to Create Lockbox File and Example Lockbox Files for more information about lockbox files.
For Gotransverse to be able to upload and process the lockbox file, the file must contain specific information that is in a specific format. It is your responsibility to ensure that the lockbox service has the information needed to provide a lockbox file that meets Gotransverse requirements. For information about the content and format of a lockbox file and for suggestions about creating a lockbox file, refer to Create Lockbox File.
For increased visibility into bank-processed transactions, you can map tags in transaction files to Gotransverse payment method custom fields in the Setup module (refer to Create Bank Account Setup). When payment matching transactions are posted, Gotransverse extracts tag values from the transaction file and posts them to mapped payment method custom fields. You can use this information to look up specific bank-processed transactions when you perform reconciliations or investigate issues. This data is important for auditing purposes as well. With the GTV-Connector, you can transfer information in payment method custom fields to an ERP system such as NetSuite 
or Workday .
The Payment Matching application provides the flexibility to change which tag values are captured and to which custom field a tag value is posted. You can edit the content of mapped tags when you edit transactions (refer to Transactions Module). Data mappings are set up and managed in the Setup Module.
You must have the File Payment payment gateway configured on your tenant to use the features in the Payment Matching application. Refer to File Payment Payment Gateway in the Admin application section of this user guide for instructions on integrating the File Payment payment gateway. For further assistance, contact Gotransverse Technical Support.
Refer to the following topics for additional information about the different modules of the Payment Matching application:
Topic updated: 10/2024.