Reconciliation in Continia Banking

In Continia Banking, a key step in effective payment management is the reconciliation process, which ensures that your financial records are accurate and up to date. This process involves importing external documents, such as bank statements or invoices, and matching them with your internal ledger entries, using various identification methods. Once matched, you can either manually or automatically apply the payments to the bank account or G/L account, or to a customer, vendor, or employee, and then post the reconciliation.

Continia Banking supports and enhances the Microsoft Business Central way of reconciling bank accounts and payments, offering customized reconciliation solutions and advanced options for improving the automatic matching process using various rules for identification.

There are two ways of performing reconciliation in Continia Banking:

• The Bank Account Reconciliation ensures meticulous reconciliation based on bank data. You import the bank account statement file, match and reconcile the bank account ledger entries and post all transactions directly on the bank.

• The Payment Reconciliation Journal allows you to reconcile bank ledger entries created in the journal on the bank account, or simply apply the payments and skip the reconciliation. If you choose to skip reconciliation, it can be completed later when the journal is posted.

Matching in Banking Import

Regardless of whether you use Bank Account Reconciliation or the Payment Reconciliation Journal for reconciliation, the matching methods are the same.

When you import files for reconciliation, Banking Import matches the payment lines with existing ledger entries based on elements, such as:

• Transaction type: Identifies various transaction types, including payments, fees, and other financial activities.

• Search rules: Searching for specific texts in descriptions or details in the imported transaction. These must be created manually.

• Related party matching: Suggests matches based on an identified customer, vendor, or employee account.

• End-to-end ID: Matches based on a payment's end-to-end ID.

• Document number or external document number: Matches based on the document's number internal or external number.

Other resources

• Overview of Banking Import (Continia Docs article)
• The Basics of Account Identification in Continia Banking (Continia Docs article)
• Transaction Type Identification (Continia Docs article)