Bank Account Reconciliation

Created by Erik Åkerlund, Modified on Wed, 07 Feb 2024 at 11:01 AM by Elin Stenrud

Below is a user guide how to setup automatic reconciliation of bank accounts. This is only possible for your Treasury accounts where you have all transactions for the bank in in Treasury system. Note if some transactions are missing such as bank charges, fees, interests this can be set up to be imported automatically.  


In order to do an automatic reconciliation of bank accounts imported from the bank statements the following setting must be ticked in Integrations > Bank account statement import > tab 'Settings'.


Tick "Run Reconciliation Automatch", and choose the begin date for your auto- match. 

This will allow for a automatic match for

  1. 1:1 match 
  2. one to many match or many to one match. No support for many to many match.
  3. 1 unit in rounding differance

Comparing transactions in TS to imported entries from the bank. 




The widget on the start page will show how many accounts that are matched, in this case 13. And how many accounts that have unmatched transaction, in this case 3.

Configure

First step is to configure which bank accounts to be reconciled.


In Back Office > Bank Account Reconciliation, click on "Configure"-button.


A list of all accounts in TS will be presented. Tick all accounts you want to do an automatic reconciliation - by ticking the "Reconciliation Active" check-box. Set a date from when the system should reconcile by setting a date in "Reconciliation Begin Date".



The Accounts you have selected for reconciliation will now appear in the list to the left. .



In Settings / System settings / System reconciliation

You need to enter a start date from when you want to start the automatic reconciliation. 



The date in system settings will be suggested as begin date but it s also possible to change this in the reconciliation view. 


The Widget will also use the same selection and show you number of matched/unmatched transactions.



Bank account Reconciliation 

Manually matching entries will get Descripton Manually created. 

Imported mean its a bank transaction which has been imported and automatically matched during the import

Ambigious match means that their was same same amounts the same date which could have been reconciled with the bank transaction. 


 

On the left side all processed payments in Treasury systems will be shown and on the right side the transaction imported from the bank are shown.


Unmatched Payments (Treasury systems side) 

Treasury Systems side. Payments that have not found a match from imported statements. Note; only transactions that are created as actual payments in TS will be shown here and automatched.


Unmatched Entries (Banks side)

Banks side. Entries imported through the statements that are not yet matched automatically will show up here. Also entries that do not have any Entry transaction rules will show up here.


Suggested Matches

If you have 2 deals with the same amount the same day on both sides a suggested match of the 2 transactions will be shown. You can either accept or revert and change the suggested match. 


Matched

Here all entries imported from the bank that found a match will be shown.


Automatic matching are done on following parameters;

  • Amount
  • Value Date
  • Bank account


Deviating entries can be matched manually in this view e.g. different payment date. 





Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons

Feedback sent

We appreciate your effort and will try to fix the article