Bank Accounts can be reconciled with our on-screen reconciliation page.

The first step is to import transactions by navigating to Bank and clicking the select box next to the relevant bank account, then selecting Import Transactions either from the row actions or from the Actions menu.

This will then take you through to a page that will allow the import of a .csv file in a number of formats, we have set up defaults for a number of UK banks.

Once you have selected your bank, or if you are using the ‘generic’ format, assigned the relevant columns in your .csv file, you are ready to begin reconciling your account.

From the Bank menu, you can select your account and choose ‘Reconcile’.

This will take you to the on-screen reconciliation page that will display the relevant system transactions for the period chosen (shown on the left). The imported transactions will be shown on the right.

You can now begin to match the imported transactions with the system transactions by clicking ‘Link’. You can also make use of the filters to sort by date or value.

If there are any bank transactions without a corresponding system transaction, you can add payments and receipts ‘on the fly’ to allow reconciliation. You can also choose to ‘force reconcile’ which will link payments with mismatched amounts.

Over and under payments are also recorded i.e. for payments on account as are gains and losses on exchange, which are prompted in the relevant pop ups.