Cash Match: Efficiently reconciling portfolios 

Document created by Michael Kinens Employee on Aug 11, 2016
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The basics

The Cash Match feature quickly identifies potential reconciliation issues caused by movements in the cash account which do not have a corresponding or balancing transaction (or vice-versa).  The most common scenarios which reflect this are:

  • Dividend payments (ie. deposits into the cash account) for which there is no matching corporate action (often due to the corporate action not being run), and
  • Corporate actions which do not have a matching deposit in the cash account (often a rounding or timing issue relating to the corporate action template, or funds not having been paid).

 

Cash Match can also assist with reconciling:

  • Withdrawal proceeds - especially where a multiple trades were performed or where redemptions from fund managers are not timely or prone to appearing in the wrong account).
  • Unexpected deposits  - particularly useful for SMSF contributions which require classification and assignment to the respective trust member.   

 

 

KNOW more...

  • More detail on the Cash Match feature can be found here.

 

 

Matching like a pro

In order to implement a service which will scale, best practice dictates that matching should be performed in bulk (across all clients being offered the service) and attention should be placed on the exceptions, ie. transactions which are not matched.  To achieve this:

1. Establish a Saved Search Criteria using either client data or a Portfolio Group created to specifically to cater for clients receiving this service.  

 

2. Once you have your result, select Modify All from the Functions menu:

 

3. Select 'Portfolio Cash Match' from the Function list: 

 

4. Set your tolerance preferences, and click the Run button:  

 

5. A Notification Message will appear once the actions have completed:

 

 

Focus on the exceptions

Once the above process has completed, the 'Un-reconciled Cash Match (Flat CSV) management report can be run to generate a list of all the client portfolios which require attention.  The automated generation and delivery of this report to key resources within the business could also be managed using the Scheduler feature.  To access the Un-reconciled Cash Match report:

1.  From your Search Results, expand the Reports menu to reveal Management Reports:

     

2. Select Management Reports and, from the drop-down list of Reports, select 'Un-reconciled Cash Match (Flat CSV)' from within the Portfolio Reports section:

  

 

3. Adjust the report Parameters and click the Run button to generate the report.  The parameters used should reflect the management approach being adopted, for example, If the process is performed weekly (or more frequently), running the report for the 'Current Month' should be sufficient.  Accordingly, your timeframes will need to be adjusted if less frequent attention is paid to this exercise.

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