Automatic reconciliation
This function matches bank statement entries against bank account entries according to date, amount and various settings you select.
To automatically reconcile the entries of the bank account and the imported bank statement:
- Click ‘Bookkeeping’ > ‘Bank’ > ‘Bank reconciliation’
- Select the ‘Year’ and ‘Period’ to be reconciled
- Click ‘Auto-reconcile’
- Edit the fields Details
- Click ‘Complete’
Entries that have been matched are indicated with the ‘Reconciled’ icon.
To see the matching entry of a given entry, click the entry. The entry row turns brown while the matched entry turns red.
Please note: When you choose to match one to many or many to one (“Allow several bank statement entries to one cash account entry”/”Allow several cash account entries to one bank statement entry”), the automatic matching typically matches a maximum of 5 entries (in general, this depends on the number of entries to choose from).
Details about the fields
| Field | Action |
|---|---|
| ‘Number of days +/-‘ | The number of days to allow between the book date of an entry in the cash account and the book date of a bank statement entry. Leave the field empty to allow only same-day entries |
| ‘Allow several bank statement entries to one cash account entry’ | Check this to enable several bank statement entries to be matched against one cash account entry |
| Note | If checked, the number of days entered in ‘Number of days +/-‘ is ignored |
| ‘Allow several cash account entries to one bank statement entry’ | Check this to enable several cash account entries to be matched against one bank statement entry |
| Note | If checked, the number of days entered in ‘Number of days +/-‘ is ignored |
| Where would you like to go next? |
|---|
| Manual Bank Reconciliation |
| Back to Bank Reconciliation home |