As an Admin get to know your Statement Settings
Within the statement settings, team administrators have the flexibility to fine-tune their settings enabling a more efficient and team-tailored reconciliation process With five key options available, admins can enhance their experience by adding extra columns, automating ledger dates and selecting the appropriate mode for reconciliation. These settings include:
Statement Settings
Within the statement settings, team administrators have the flexibility to fine-tune their settings enabling a more efficient and team-tailored reconciliation process With five key options available, admins can enhance their experience by adding extra columns, automating ledger dates and selecting the appropriate mode for reconciliation. These settings include:
Statement Settings
No Action/Action Required
Reconciliation Basis
Ledger Date Automation
Additional Statement Columns
By customizing these settings, admins can streamline the team’s workflow and tailor your organization’s reconciliation to meet business needs.
Here is a breakdown of the settings options and the description of their functionalities.
No Action / Action Required:
This setting allows admins to adjust and edit action fields as well as add new ones. By default, in “No Action/Action Required”, you’ll find statuses such as “Investigate”, “Request Copy” and “Unposted”, each accompanied by specific notes that clarify when these terms apply during reconciliation.
Please note modifying these default statuses will impact previous reconciliations. If you wish to maintain the existing “No Action/Action Required” statuses for historic reconciliations but want to introduce a new status, you’ll need to include them as additional statuses.
To learn more on how to edit/add statuses in the “Action Required” section, click here.
Reconciliation Basis:
This feature allows admins to adjust reconciliation settings and provides the ability to not consider specific items as differences during the reconciliation process. This includes differences caused by timing issues related to invoice posting or payment and unposted invoices, which will be adjusted and not treated as differences for future reconciliations.
Xelix offers the following Reconciliation Basis modes:
Standard (default): This is the default setting where timing and unposted items are considered differences in Xelix.
Timing not a difference: This mode doesn’t consider invoices caused by timing as a difference.
Unposted not a difference: In this mode, unposted invoices are not considered differences when running reconciliation results in Xelix.
Timing and Unposted not a difference: Here, both timing differences and unposted invoices are not flagged as differences in Xelix.
Ledger Date Automation
This feature enables administrators to customise their preferences for selecting ledger dates. By automating the ledger date selection process, Xelix can bypass this step entirely, automatically choosing the appropriate ledger date based on the specified preferences in the statement settings.
In Xelix, you have the following options:
Automated - Most Recent Available Date: The ledger date is automated based on the date of the latest daily ERP file received.
Automated - Statement Date (default setting): This option automatically sets the ledger date to match the date on the statement during reconciliation.
Manual: This option allows users to choose the ledger date during the reconciliation process.
Last Date of Previous Month: The ledger date is automated based on the last date of the previous month.
Additional Statement Columns
In Xelix, admins can add new custom columns that can be mapped to the statement document columns. This is to allow reading in more fields from the statement. This customization allows customers to tailor their layout to meet organizational needs and streamline operational processes.
If you would like to learn how to add additional statement columns, click here.
