Payment Matching

Welcome to the Gotransverse Payment Matching application.

With payment matching, you can process and post payment files, which are statements from a bank or other source that contain transaction data. Payment files include data for Accounts Receivable (AR) transactions such as payments and payment cancellations as well as Non-Accounts Receivable (Non-AR) transactions. Non-AR transactions result in journal entries in a general ledger, like transfers or bank fees.

You can upload payment files manually or pull them into Gotransverse through an API call or through an SFTP server. Once a file is uploaded and validated, Gotransverse performs automatic matching on all transactions in the file. AR transactions that are payments match to billing accounts and invoices. AR transactions that are payment cancellations match to billing accounts, invoices, or payments.  Any transactions that aren't matched to a billing account are grouped into a holding account. You can then manually clean up any matches that aren't successful and submit payment files or individual transactions. Submitting a payment file posts transactions in Gotransverse and records them in your general ledger.

For increased visibility into bank-processed payments, you can map tags in payment files to Gotransverse payment method custom fields. When payment matching transactions are posted, Gotransverse extracts tag values from the payment file and posts them to mapped payment method custom fields. You can use this information to look up specific bank-processed payments when you perform reconciliations or investigate issues. This data is important for auditing purposes as well. With the Gotransverse Connector Service, 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 payments.