Match and reconcile the lines
- 4 Min.
To start the bank account reconciliation process, follow these steps:
- From the Role Center, search for Bank Account Reconciliations, and choose the related link.
- On the Bank Account Reconciliations page, select New.
- In Bank Account No. field, select the bank account you want to reconcile.
Note
Statement Intelligence is activated for the reconciliation if the bank account is set up to use Payment Management. This is configured automatically when you run the assisted Bank Account Setup guide.
- To import the statement file from the bank, select Bank in the menu, and then Import Bank Statement.
The bank statement lines may have different statuses. Check out the table below for details of what they all mean.
| Status | Description |
|---|---|
| OK | A matching bank account ledger entry has been found and the reconciliation of this line is OK. |
| Unsolved | A direct match hasn't been found and the line needs to be reconciled. |
| Awaiting Cash Rcpt. Jnl. | A match has been found and the line has been transferred to the cash receipt journal and is ready to be posted. |
| Awaiting G/L Jnl | The line has been transferred to the G/L journal, and is ready to be posted. |
| Awaiting Payment Jnl. | The line has been transferred to a payment journal and is ready to be posted. |
Matching with Statement Intelligence
The Statement Intelligence features help you to create automatic matches based on:
- Transaction ID.
- The Transaction ID follows the payment from the payment journal to the bank, and back to Business Central again in the statement file. It ensures a 100% match in the reconciliation.
- Date and amount, and their correlation with:
- Vendor number and the vendor search name in the notification
- Customer number and the customer search name in the notification
- Employee number and the employee search name in the notification
Statement Intelligence will also create automatic suggestions based on coherent data in cases where the criteria specified are not met. Then Statement Intelligence makes a qualified guess, and you make the final decision to confirm if the journal line should be created.
If there are no matches automatically made based on this information, you can, for example:
- Create matches manually, if you see two lines that hasn't been matched automatically, for example, due to a slight difference in due date. To create a manual match, in the action bar, select Matching > Match Manually.
- Create a missing bank account ledger entry by adding the payment to a journal. When it is posted, the entry and match is created.
Lastly, you can also create reconciliation rules that can further help Statement Intelligence to identify matches. More on that, in the following units.
Other resources
- Importing and reconciling bank statements (Continia Docs article)
- Matching bank statement lines manually (Continia Docs article)
- Reconciling bank statement lines manually (Continia Docs article)