When it comes to reconciling transactions using the Auto Bank Reconciliation module, there are two methods, manual or auto. This article deals with reconciling transactions automatically.
Run automatic reconciling
Click Financials then click Cash Book.
Click Auto Bank Reconciliation an ABR-Messages window is displayed.
The top panel in the window, documents any matches or conflicts.
For the ABR- Messages to work, reconciliation matching rules have to be defined first under Options.
If there are no reported conflicts
Close the window, clicking the red X icon.
If there are conflicts (the system has found more than one possible match)
Select a match and then reconcile. To do this:
Click the Conflicting Transactions panel.
Select a transaction. Possible matching transactions are displayed in the Possible Matches panel.
If a match is found in the Possible Matches panel, double-click the relevant transaction. It is then automatically reconciled.
View the reconciled transactions in the Imported Transactions panel. If ’C’ is entered in the rec column against reconciled transactions. ’C’ is used as an abbreviation for a ’Complete’ match.
The following choices are available for reconciling a transaction or transactions:
Update Reconciliation | This updates the current bank account and flags the cash book transactions as reconciled and marks the statement as complete. |
Save | Saves the automated bank reconciliation details at the stage left it. |
Cancel | Cancels any changes made the last save. |
Once a statement is completely reconciled the Update Reconciliation should be clicked so that the statement is flagged internally as complete and removing it from the default statement search