Statement Reconciliation Settings
The Statement Reconciliation module includes configuration options that control how supplier statements are processed within the system.
Currently, the primary setting available is Straight-Through Processing (STP), which enables automated reconciliation of statement data with minimal or no manual intervention.
Straight-Through Processing (STP)
Straight-Through Processing (STP) allows the system to automatically process supplier statements where matches between statement data and AP/ERP records are clear and unambiguous.
When enabled, the system:
- Automatically matches statement line items with corresponding invoices, payments, or credits
- Completes the reconciliation process without requiring user review for fully matched items
- Routes only exceptions or unmatched items for manual validation
STP applies only when the system has high confidence in the match. Any uncertain or unmatched items will still require user review.
STP Advantages
Enabling Straight-Through Processing provides the following advantages:
-
Reduced Manual Effort
Eliminates or significantly reduces the need for manual matching of statement lines. -
Faster Processing
Accelerates reconciliation by automatically completing straightforward cases. -
Improved Efficiency
Allows AP teams to focus only on exceptions rather than reviewing every line item. -
Scalability
Supports high-volume statement processing without increasing operational workload.
When to Use STP
STP is most effective in environments where:
- Supplier statements closely align with internal AP and ERP records
- Data quality and consistency are high
- The goal is to minimise manual intervention and improve turnaround time