What is Iterative Maximum Number of Days in a Match?
'Normal' Max Days in a Match
Typically, if a matching rule used 'date' as an attribute in deciding whether to match records, it was a single figure, typically 31 days, which was large enough to include the majority of matches.
The problem with a single large 'catch-all' figure is that it enables erroneous cross matching amongst records that had duplicate amounts that were within the date range.
In the case below, all records were within the 31 day parameter and were matched in date order.
The GL record dated 8/30/2021 incorrectly remained unmatched.
Iterative / Looping the Maximum Number of Days in a Match
With Bank Rec's iterative max date feature, the system can attempt to match records at any iteration.
For example: if set to 0,1,2,3,4,5,6,7,15,22,31
The system will:
--First attempt to match records that meet the other attributes (amount, etc.) and with dates that are the same (the first entry is 0/zero days' difference between the Bank and GL records).
If all conditions are true, including the records are dated the same day, the records will be marked as a match.
However, if the records are not a match, the system will continue looking for other records that also meet all conditions--including the date.
If no records are found for a match, the system increments the maximum number of days to the next entry, in this case 1.
--Attempt to match records that meet the other attributes (amount, etc.) and with dates that are 1 day apart (1 day difference between the Bank and GL records).
This process continues until a match is made or the system reaches the last number of days entry.
This feature is highly recommended when the data sets have recurring/duplicate amounts, and will help minimize false positive matches (see below).
In the case below, all records were matched on the day 1 difference parameter correctly.
The GL record dated 8/16/2021 correctly remained unmatched.