Payment Matching
Payment Matching application allows you to process and post transaction files, which are statements from a bank or other source that contain transaction data. Transaction 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.
You can upload transaction files manually in the Transaction Files Module 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 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 file posts transactions in Gotransverse and records them in your general ledger. Transactions can be viewed in the Transactions Module.
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 (also refer to the GTV Connector Service 
whitepaper),
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.
Refer to the following topics for additional information about the different modules of the Payment Matching application:
Topic updated: 03/2024.