• 29/01/2025
  • 3 minutes to read

Setting up a Payment Reference Rule

Creating a payment reference rule helps automate the payment reconciliation process, ensuring consistency and accuracy in your financial records. By setting up payment reference rules, you can define how payment references are validated, matched, and processed within your system.

Continia Banking offers the following important guidelines:

  • Mandatory Fields - fields marked with a red star (*) are required. Make sure these fields are completed to prevent errors.
  • Notifications - if any settings are missing or incorrect, notifications will appear in the Bank Account Reconciliation or Payment Reconciliation Journal, helping you quickly identify and address issues.

To set up a payment reference rule:

  1. Use the Search icon and search for Payment Reference Rules.
  2. On the Payment Reference Rules page, on the action bar, select New to create a new Payment Reference Rule or select Copy Payment Reference Rule to use a default or previously set rule as a template.
  3. On the General FastTab, edit the Payment Reference Search Field template to specify the exact location where the reference appears in the payment statement. This helps the system accurately locate and interpret the reference.
  4. On the Validation FastTab, use a regular expression to define a pattern code that ensures the reference follows the correct format. You can also configure the check digit, specifying its position and calculation method to further guarantee accuracy.
  5. On the Matching FastTab, you can define the table and field where the system should search for the reference in the ledger table. Use the Direct Match field to decide whether the match should be exact or allow some flexibility. You’ll also need to edit the reference information by specifying the start position and length of the reference.
  6. On the Rule Filter FastTab, set filters to apply specific conditions, to ensure the rule only applies to statement types (e.g., CAMT.054) or bank transaction codes. Rules are also configurable per bank or bank account, though default settings are typically sufficient.
  7. On the Test FastTab, test the rule using the built-in testing functionality to ensure it works as expected, accurately matching references and processing them correctly.