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 correct bank account or G/L account, 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 offers you more flexibility in reconciliation as you can choose to post transactions directly on the bank account or on a G/L account. You can apply various ledger entries on the fly, and the system can reconcile bank account ledger entries automatically during the posting process.

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 can be created manually and automatically based on previous reconciliations.

• Related party: 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)