Process incoming bank transactions
When you have incoming bank transactions, either from manually importing a bank statement or from a bank feed the transactions display on the Incoming Bank Transactions page. Match them to your Accounting transactions, create payments on account, Other payments, or receipts, or record transfers.
Some transactions (for example, vendor bills) are not available in Accounting Start.
For each transaction, the following options are available:
Match the incoming bank transaction to outstanding invoices or credit notes in Accounting. Once matched, the transaction is recorded in bank account, allocated to the invoice or credit note, and marked as cleared. Once cleared, it cannot be downloaded again. If the transaction was allocated to an invoice, the invoice status is also updated to Paid (or Partially Paid).
Section 1 - Select the transaction (or transactions) that make up the amount
You can match a transaction to one or more invoices, as a partial payment, or as an overpayment. Use the search and filters to locate specific transactions. For example, enter a keyword to find specific contacts. You can also filter the list by transaction type; vendor bills or sales invoices (outstanding, partially paid) or receipts and payments or by period. If you already recorded the transactions from Banking, you can still match an incoming transaction to it. If you do not find a transaction, you can edit the filters or select Reset on the Search window to clear all filters.
Panel 2 - Review the selected transactionsAs you select transactions from the first panel, the total amount selected is displayed. You can review the list of selected transactions and remove or add as needed. The selected transactions must add up so that the amount in the Left to Match field is zero. If you still have a balance and the incoming transactions total is:
|Find a Match||
If you still have some unmatched incoming transactions, click Match again and then click Find a Match to search for possible matches from a list of uncleared (or unreconciled) payments, receipts, outstanding invoices, and credit notes. The list of transactions is from your current fiscal year both before and after the date of the incoming transactions. If you do not have a set fiscal year, the transactions are from the current calendar year. The oldest transactions display at the top of the list, though you can filter the list as needed.
You can split a bank transaction by selecting multiple transactions from one or more customers or vendors on the list to match it to. Select a transaction in the first list to move it to the Review the chosen transactions section. When you are done selecting transactions, verify what you have added to the section.
Enter the amount to apply to each selected transaction from the bank transaction. The total amount of the matched transactions must be equal to the total amount of the bank transaction. If the total of your selected transactions is less than the bank transaction total, click New Transaction to create a new payment, transfer, or other type of transaction to account for the balance. If the matched transaction is an invoice or credit note, you must also select the payment method for the receipt (or refund) that will be created.
Click Match when you are ready to match the transactions. If you matched a bank transaction to an invoice or credit note, they will be marked paid and the matched transactions will be marked Cleared or Reconciled in your bank account.
|Create||Use this option to create the transaction. Enter the following details, then click Create:
If you create transaction for a payment and do not match it to an invoice, you will create a payment or receipt that you cannot allocate to an invoice in the future.
You can also split a bank transaction across different ledger accounts, if necessary.
|Transfer||Use this option to transfer the amount from or to the selected bank account.
Enter the following details, and then click Transfer:
If you have transactions you don't want, you can delete them. You may need to do this if you have bank transfers or transactions you've already imported or reconciled.
Select the transaction (or transactions) you want to delete and then select Delete from the top of the list.