Euromatching

EUROMATCHING

A. INTRODUCTION TO EUROMATCHING

Euromatching is the perfect tool for all accountants who need to find differences between two given accounts.
It is especially designed to automate Intercompany Reconciliations, but can also be used for Bank reconciliations, or to spot a difference in a list of amounts.

B. REQUIREMENTS

Euromatching can run on all versions of Windows, and has been tested successfully with Microsoft Excel 2000 to 2003.
A fast processor is recommended for largest reconciliations featuring hundreds of lines to be tested.

C. USER GUIDE

Euromatching is able to pair off amounts or invoice numbers from two different extracts of accounts. Two modes of comparisons are available : Matching by amounts, and Matching by numbers.
Firstly, you will need to clear out the sheet by using the Delete button located in cell H1.
You will then be able to fill in the different columns with the relevant information needed for your reconciliation.
It is recommended to carry out a Paste/Special Values operation, to avoid spoiling the layout of the sheet.
It is not compulsory to fill up all columns. Still, the Amount columns (G & N) are required, as well as the Reference columns (C & J) if you plan to perform a Matching by Numbers.
Assuming you are working on an Intercompany reconciliation, you may also write down each company name in cells G1 & N1.

1) MATCHING BY AMOUNTS

Euromatching is able to compare and match each cell from both Amounts columns, and apply a random color & letter to a group of cells whose total is the same.
It can also gather amounts that are slightly different. You can enter a Rounding Margin of 0,01$ in cell A18, if you want an amount of 99,99$ in the left column to be matched with an amount of 100$ in the right one.
To wit : both "Amounts" columns must have the same sign to be considered as equal. So you may have to reverse the sign of a statement of account before pasting it to Euromatching sheet.
By clicking on the Matching Amounts button, you will be prompted to enter the Search Deep. This value must be an integer : 1 is the minimum. There is no maximum, but be aware that a value larger than 5 may be very time-consuming, depending on the speed of your computer, and the number of lines to compare.
The aim of the Search Deep value is to allow Euromatching to clear an amount of the left column, with several amounts from the right column. Let us suppose you choose a deep of 3, you will be able to clear an amount of 300$ in the left column with 3 amounts of 100$ in the right one.
The number of combinations reckoned by Euromatching is displayed in the Status Bar, at the bottom of the screen, as well as the percentage of progression. If you see a number of combinations greater than one billion, you should consider starting back, and choose a lesser Search Deep ! Keep in mind that a great value will have a negative impact on the calculation time.
Below is a screenshot of a completed reconciliation by amounts. You can see that a random color is applied to each cell whose total in the right column is equal to the one in the left one. For more legibility, a group of two letters is also used to show up cells of the same color.

2) MATCHING BY NUMBERS

Reference columns(C & J) need to be filled up with the invoice numbers of each company.
You can then press on the Matching Numbers button to launch the comparison.
Euromatching will overlook the following characters : . - and /
As a result, a cell featuring a number like "2009/123" will be matched with the one stated as "2009123" in the other column.
See below the result of a Matching by Numbers.

3) RECONCILIATE

This operation is optional, but turns out to be very convenient in the case of an Intercompany Reconciliation.
It must be carried out immediately after a Matching by Numbers, or by Amounts.
When you press on the Reconciliate button, all colored cells will be stricken off, leaving only the lines who failed to be matched. Eventually, you will be prompted to enter the Reconciliation Date, and the Balances amount for both companies.
A new line will then be inserted in front of both columns, quoting the "Balance before reconciliation".
If your reconciliation is correct, the Delta Amount in cell A27 should be nil.

The reconciliation must be interpreted as follows : All amounts below each "Balance before reconciliation" are the missing lines in the respective companies. Those lines need to be posted in each accounting side, in order to get the same balances in each company.

D. LICENCE

Euromatching is a Freeware : it is not limited and you can use it, and distribute it freely. If you find it useful, I will gladly accept a financial contribution at your discretion, on my secured WebMoney account below.

E. DISCLAIMER OF WARRANTY

Users of this software must accept this disclaimer of warranty:
This software is supplied "as is" and without warranties as to performance of merchantability or any other warranties whether expressed or implied.
Because of the various hardware and software environments into which this program may be put, no warranty of fitness for a particular purpose is offered.
The user must assume the entire risk of using the program.
In no event shall the author be liable for any damages whatsoever (including, without limitation, damages for loss of business profits, business interruption, loss of business information, or other pecuniary loss) arising out of the use of or inability to use this program, even if the author has been advised of the possibility of such damages.